Midnight Opening Range - A Practical ICT Guide for London and New York Sessions

The Midnight Opening Range is an ICT trading concept introduced by Michael J. Huddleston, founder of the ICT (Inner Circle Trader) methodology. He taught this concept in detail during the 2025 Lecture Series, explaining how the first 30 minutes after midnight can establish important reference points for the entire trading day.

The Midnight Opening Range helps traders identify potential support, resistance, liquidity targets, intraday premium and discount areas, and possible daily range objectives.

As Michael J. Huddleston explains:

“The price is always delivered by a time-based delivery mechanism.”

This means the Midnight Opening Range should not be viewed as a random collection of candles. It is a time-based framework that can influence how price is delivered during the London and New York trading sessions.

What Is the Midnight Opening Range?

The Midnight Opening Range, also called the MOR, is the price range created between:

00:00 and 00:30 New York local time

The trader marks the highest price and lowest price formed during this 30-minute period.

Michael J. Huddleston considers this an algorithmic opening range, similar to the opening range formed between 09:30 and 10:00 during the New York stock market session.

The Midnight Opening Range provides three primary reference points:

Midnight opening price
Midnight Opening Range high
Midnight Opening Range low

A fourth useful reference point is the midpoint of the complete range.

Set Your Chart to New York Time

Before marking the Midnight Opening Range, the chart must be set to New York local time.

This is important regardless of where the trader lives. The ICT methodology studies price delivery according to New York time because many important institutional trading sessions, economic releases and algorithmic time windows are organized around it.

For futures traders, electronic trading hours must be visible because midnight occurs outside regular market hours.

For Forex traders, the market normally trades continuously during this period, so the range can be marked directly on the intraday chart.

How to Draw the Midnight Opening Range

The range can be marked using a one-minute, five-minute or fifteen-minute chart. Michael J. Huddleston demonstrates the concept primarily on the one-minute chart because it provides greater precision.

Follow these steps:

Set the chart timezone to New York.
Locate the candle opening at 00:00.
Mark the opening price of the 00:00 candle.
Observe all price action between 00:00 and 00:30.
Mark the highest high formed during this period.
Mark the lowest low formed during this period.
Extend the opening price, range high and range low throughout the trading day.
Mark the midpoint between the range high and range low.

The midpoint represents the Consequent Encroachment of the complete Midnight Opening Range.

The Three Main Reference Points

Midnight Opening Price

The midnight opening price acts as the daily Power of Three reference point.

Price may trade above or below this level during the day before returning to it. It can behave as support, resistance, a retracement objective or a rebalancing level.

When price moves above the midnight opening price, the market is trading at a relative premium to the daily open.

When price moves below it, the market is trading at a relative discount.

However, this should always be interpreted together with the higher-timeframe directional bias.

Midnight Opening Range High

The range high can act as:

Buy-side liquidity
Resistance
A breakout reference
A premium entry area
A level for projecting higher targets

A temporary move above the range high does not automatically confirm bullish continuation. Price may sweep liquidity above the high before reversing lower.

Midnight Opening Range Low

The range low can act as:

Sell-side liquidity
Support
A breakdown reference
A discount entry area
A level for projecting lower targets

Price may also trade below the range low to collect sell-side liquidity before reversing higher.

Consequent Encroachment of the Range

The midpoint between the Midnight Opening Range high and low is called its Consequent Encroachment.

This midpoint helps divide the range into premium and discount.

Price above the midpoint is in the premium portion of the range.

Price below the midpoint is in the discount portion of the range.

During a bullish trading day, a retracement into the midpoint or lower portion of the range may offer a discount buying opportunity.

During a bearish trading day, a retracement into the midpoint or upper portion may offer a premium selling opportunity.

The midpoint can also act as an intraday magnet when price moves outside the range and later returns toward equilibrium.

The First Displacement Inside the Range

One of the most important details in the Midnight Opening Range is the first meaningful displacement that forms inside it.

Displacement is an aggressive price movement that shows imbalance and urgency in delivery.

The first displacement may create:

Fair Value Gap
Single-candle imbalance
Volume imbalance
Order Block
Breaker Block
Rejection Block
Other ICT PD Arrays

Michael J. Huddleston places particular emphasis on the first clearly presented imbalance inside the range.

That imbalance can remain influential after midnight and may later provide support, resistance, an entry area or a projected target.

The high, low and midpoint of the imbalance can also be extended forward.

Using Standard Deviation Projections

The complete Midnight Opening Range can be used as a measured range.

The distance between the range high and range low represents one complete range unit.

That distance can be projected above the range high or below the range low.

Common projections include:

0.5 standard deviation
1 standard deviation
Additional extensions when price strongly expands

For an upside projection, measure the complete range and project it above the range high.

For a downside projection, measure the complete range and project it below the range low.

These projected levels may help estimate where the daily high, daily low or session objective could form.

However, the projections should not be used blindly. Their importance increases when they align with:

Previous highs or lows
Equal highs or equal lows
Fair Value Gaps
Order Blocks
Higher-timeframe liquidity
Session timing
Economic calendar events

Midnight Opening Range and the London Session

The Midnight Opening Range is especially useful for trading the London session.

By the time London activity begins, the trader already has a defined opening range and several price references.

Michael J. Huddleston highlights the area around 03:30 New York time as an important London-session macro window.

During this period, traders can watch for price to react from:

Midnight opening price
MOR high or low
Range midpoint
First displacement
Fair Value Gap inside the range
Standard deviation projection

A London trade should still be supported by directional bias, liquidity and an identifiable ICT entry model.

The Midnight Opening Range provides the framework. It does not replace market analysis.

Midnight Opening Range and the New York Session

The range can remain relevant long after the London session has ended.

Before trading New York, traders should review how price interacted with the Midnight Opening Range during London.

Important questions include:

Did London sweep the MOR high?
Did London sweep the MOR low?
Did price respect the midpoint?
Was the first displacement revisited?
Did price already reach a standard deviation objective?
Is the midnight opening price acting as support or resistance?
Is New York likely to continue or reverse the London move?

A rejection from the Midnight Opening Range during New York can help confirm continuation.

A failure to hold above or below the range can signal that price is being drawn back toward the opposite side.

Bullish Midnight Opening Range Scenario

A bullish setup may develop when:

The higher-timeframe bias is bullish.
Price trades below the midnight opening price.
Sell-side liquidity is taken.
Price reaches the MOR low, midpoint or a discount PD Array.
Bullish displacement appears.
Price retraces into a Fair Value Gap or Order Block.
The target becomes the MOR high, external buy-side liquidity or an upside standard deviation.

The strongest setups normally combine time, liquidity and displacement.

Simply buying because price touched the MOR low is not enough.

Bearish Midnight Opening Range Scenario

A bearish setup may develop when:

The higher-timeframe bias is bearish.
Price trades above the midnight opening price.
Buy-side liquidity is taken.
Price reaches the MOR high, midpoint or a premium PD Array.
Bearish displacement appears.
Price retraces into a Fair Value Gap or Order Block.
The target becomes the MOR low, external sell-side liquidity or a downside standard deviation.

The MOR high may provide the location, but market structure and displacement provide confirmation.

Using the Range for Stop Management

The Midnight Opening Range can also help with stop placement.

For a bullish trade, the stop may be placed below:

A liquidity sweep
MOR low
Bullish displacement low
Entry PD Array

For a bearish trade, the stop may be placed above:

A liquidity sweep
MOR high
Bearish displacement high
Entry PD Array

The stop should be placed where the trade idea becomes invalid, not automatically on the opposite side of the complete range.

Common Mistakes

Trading Every Breakout

Price moving outside the range does not always mean continuation.

The movement may only be a liquidity sweep.

Ignoring the Midnight Opening Price

Many traders mark only the high and low. The actual midnight opening price is an important Power of Three reference.

Ignoring Time

The Midnight Opening Range is a time-based concept.

A reaction during an active London or New York macro is generally more meaningful than a reaction during inactive market conditions.

Using the Range Without Directional Bias

The range does not tell the trader to buy or sell by itself.

Higher-timeframe liquidity, daily bias and market structure must provide context.

Ignoring the First Displacement

The first clear imbalance inside the range may become one of the most important intraday reference points.

Forcing Standard Deviation Targets

Projected levels are potential objectives, not guaranteed destinations.

Midnight Opening Range Trading Checklist

Before using the Midnight Opening Range, confirm the following:

Chart is set to New York time
Range is marked from 00:00 to 00:30
Midnight opening price is extended
MOR high and low are extended
Consequent Encroachment is marked
First displacement is identified
Important PD Arrays are marked
External liquidity is identified
Standard deviation projections are calculated
London and New York session timing is considered
Economic calendar has been checked
Higher-timeframe bias is clear
Entry requires displacement and confirmation
Stop is placed beyond logical invalidation

Final Thoughts

The Midnight Opening Range provides an early framework for understanding the possible construction of the daily range.

It identifies where price began at midnight, how far it expanded during the first 30 minutes and which imbalances were created during that initial delivery.

These reference points can influence price during London, New York and sometimes later in the trading day.

As Michael J. Huddleston states:

“All of your best moves are going to springboard off of things like this.”

The Midnight Opening Range should not be treated as a mechanical breakout strategy. Its real value appears when it is combined with liquidity, session timing, displacement, ICT PD Arrays, economic events and higher-timeframe directional bias.

When studied correctly, it gives the trader a structured way to anticipate where price may react, rebalance and seek liquidity throughout the day.