Let the index/stock trade for the first fifteen minutes and then use the high and low of this “fifteen minute range” as support and resistance levels. A buy signal is given when price exceeds the high of the 15 minute range after an up gap. A sell signal is given when price moves below the low of the 15 minute range after a down gap. It’s a simple technique that works like a charm in many cases.
If you use this technique, though, a few caveats are in order to avoid whipsaws and other market traps. The most common whipsaw is a trading range that lasts longer than 15 minutes. If an obvious range builds in 20, 25 or even 30 minutes , use those to define your support and resistance levels. Also consider the higher noise level in the morning. A breakout that extends only a tick or two can be easily reversed and trap you in a sudden loss. So let others take the bait at these levels, while you find pullbacks and narrow range bars for trade execution.
Buy Rules :
– Stock break his 15 minute opening range (Trade-Ideas alert : 15 minute opening range breakout)
Sell Rules :
– Sell the stock after 2 hours.
Here is some suggestions of what you can do :
– Don’t close the winning trades after 2 hours and let your profit run.
– Close position if it show a bearish pattern.
– Use a profit target to close positions.
this is awsome study.i daily earn 2000-2500 in small capital thanks for post
can I share with me your trick bro 🙂
Dear Sir
How it works on nifty?
For 15 mint orb what should be the s/l for nifty?
What should be the target?
Or just hold on to the nifty till 3.25.
Your reply will surely help the novice traders like us.
Thanking you
Shaileshkumar
Fantastic strategy… I have few small questions.
1. Can we trade this strategy daily for overall profit ? OR Is there any particular way we identify the OI or trend ?
2. Can we look at the NIFTY chart and apply the strategy on NIFTY Options trading for overall profit ?
How can set amibrker 5 min Candle brekout scanner pls
Traders can use 20 EMA as stop loss and trail it till you stopped out. However, don’t be greedy and better book profit near key resistance and support level. ORB works great in stocks and futures trading.