Report Guides
Overnight retracement to midnight open level during RTH
The midnight open is the price at 12:00 AM ET when the new trading day begins. ICT (Inner Circle Trader) popularized this concept. The idea is that the overnight range from midnight to the RTH open often gets retraced, making the midnight open a key reference level.
Mark the midnight open on your chart before RTH. If price has moved significantly from midnight to the RTH open, look for a retracement back toward the midnight level during the first 1-2 hours. This level often acts as support or resistance, making it a good entry zone for directional trades.
| Metric | Description | How to Use |
|---|---|---|
| Retracement Rate | Percentage of sessions where RTH price returns to midnight open | Gauge how reliable the midnight level is for your instrument |
| Above/Below Split | Retracement rates separated by open above vs. below midnight | Identify if one direction retraces more reliably than the other |
| Weekday Breakdown | Retracement rates by day of week | Focus on days with the highest retracement probability |
| Daily Detail | Per-session log with midnight price, direction, and retracement timing | Review individual sessions to understand retracement behavior |