How effective is the 15 minute intraday breakout?

[TAking]

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]

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]

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]

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]

	Quote:	torero
	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.