How effective is the 15 minute intraday breakout?

[TAking 10]

One strategy when trading the emini S&P 500 involves playing the 15 minute range breakout. I was curious to know if this method is still common?

 

I have not tested this yet but would like to know if anyone in this forum trades this strategy.

[ES 10]

I wouldnt rely on it too much. I have noticed the half hour reversal to be fairly common. So even if you did buy a breakout of the 15minute range, you are running right into potential resistance.

[Soultrader 12]

Rather than using time as a factor, why don't you rely more on key levels?

 

Also, I think the opening range is something professionals tend to look at. Not exactly the 15 minute range.

[torero 10]

soultrader,

 

In MP theory, the 1st hr range is where the floor trader set the range, do you look for breakouts from this range?

[Soultrader 12]

soultrader,

 

In MP theory, the 1st hr range is where the floor trader set the range, do you look for breakouts from this range?

 

The opening range breakout is an interesting topic. I find that traders use a variety of opening range breakout strategy. Some chose to play 5min breakouts, 30min, or 60min. I recall Oliver Velez mentioning the 60 min breakout to be a powerful signal for stocks.

 

I personally do not play the opening range breakout. I find it unpredictable and the concept behind it doesnt make any sense to me. If the markets extend beyond the initial balance, I will still play a pullback of the breakout.