Hi all,
I was checking the strategy (In Nifty current month futures) of Buying above high of day when Open is very near the Low of the day after 5 min of opening, similarly selling short below low of day when Open is very near High of the day after 5 minutes of open.
I have heard of this strategy many times from different people. But never gave it a thought.
Please advice if this strategy makes sense and if anyone is using this kind of strategy. I plan to keep H / L of current day as SL and 1:2 target (strictly intraday).
I have done some raw testing and found that the phenomena of open = High / low after 5 min of open comes atleast 35% of the days. But I was unable to check what is the actual result.
Please advice
I was checking the strategy (In Nifty current month futures) of Buying above high of day when Open is very near the Low of the day after 5 min of opening, similarly selling short below low of day when Open is very near High of the day after 5 minutes of open.
I have heard of this strategy many times from different people. But never gave it a thought.
Please advice if this strategy makes sense and if anyone is using this kind of strategy. I plan to keep H / L of current day as SL and 1:2 target (strictly intraday).
I have done some raw testing and found that the phenomena of open = High / low after 5 min of open comes atleast 35% of the days. But I was unable to check what is the actual result.
Please advice