That sounds about right! Thank you! This had always kind of confused me, if a controller says hold a 240 heading, does that mean the outbound leg should be a 240 heading?
Holding instructions are given in a format that hasn't changed in the last 40 years that I can recall, and although I have never heard of this acronym before, it makes sense. Makes better sense if you use Outbound for the O.
AIM 5-3-8(h) is what you are looking for.
After naming the holding fix, the controller will say North, Northeast, East, Southeast, etc...that's the
general direction in which to turn when you arrive over the fix, and you should do that without overthinking it. There are eight slices of the pie based on cardinal directions: "North" means that 45 degree slice from 337.5 to 022.5; "Northeast" means from 022.5 to 45 degrees, etc.
Then s/he will give the radial, bearing, etc on which to hold...you have ten miles (in most cases) in which to intercept that radial, etc.
Heading will not be stated. If it is a five-mile hold, that will be stated...or if it is a DME hold, that will also be stated). For direction of turn when your one-minute (or whatever, depends on wind...just stay within the distance limit)... is up, turn left if it is a standard right-hand pattern and right if it is a non-standard left-hand pattern; fly back to the fix and begin the pattern.
I have some dandy illustrations in THE COMPLETE ADVANCED PILOT.
bOB gARDNER