This is a very popular Intraday Open High Low Strategy with good Accuracy. In this strategy, a Buy signal is generated when a Stock or Index or Commodity has the same value for Open and Low, while a Sell signal is generated when it has the same value for Open and High.This is a Tried and Tasted Strategy. Traders should follow 100% discipline in executing those strategies with Risk and Money Management Rules.
Traders can keep the Stop loss at 1% from the Entry level or the Previous Day's high or Low levels.
Take ENTRY after 9.30 AM
Check Stocks where Open=High OR Open=Low (before 9.30 AM)
RULE: Open=High means SELL AND Open=Low means BUY
Buy Stocks where Open=Low above the High of 1st 15 minutes Candle
Sell Stocks Where Open=High Below the Low of 1st 15 minutes Candle.
Traders can use a time frame of 5 to 15 minutes.
Traders can Book Profits As per their risk appetite or End-of-the-day
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