Trading Nifty Futures by the 'Hourly range breakout method'

[smith06]

Hi,

I would like to hear feedbacks from other experienced members about the above method of trading nifty futures. The method is very simple. In this method, the high and low of the first hour range are taken as support and resistance points. A long position is taken on the break of the hourly high and a short position is taken on the break of the hourly low. As I do not have access to any historical intraday data, I can not backtest the method. I would appreciate feedbacks from other members who may have used the system.

Regards

 

[Laksh]

Hi,

I would like to hear feedbacks from other experienced members about the above method of trading nifty futures. The method is very simple. In this method, the high and low of the first hour range are taken as support and resistance points. A long position is taken on the break of the hourly high and a short position is taken on the break of the hourly low. As I do not have access to any historical intraday data, I can not backtest the method. I would appreciate feedbacks from other members who may have used the system.

Regards

Hello! Smith welcome to traderji. Earlier there has been a thread by biyasc on 60 minute range break out in traderji. Make a search for the same and go through the thread.

Laksh

 

[Xaero]

Saints 60 min flow is basically the same thing.

 

[smith06]

Thanks to Laksh and Xaero for their feedbacks. I think Saint's system is
slightly different. I have gone through biyasc's thread which is very useful.

Regards.

 

[rkkarnani]

Saints 60 min flow is basically the same thing.

Dont think so X!!! Saints system is different, has got nothing to do with 'opening range' at all.....

 

[Xaero]

I didn't read the thread throughly but I thought the buying on new highs and selling on new lows seemed similar.