A One-Hour Opening-Range Breakout with Midpoint Stops

Summary

The document describes an opening-range breakout approach for the FDXS on a five-minute chart. It tracks the high and low formed from 9 to 10 a.m., then enters long or short when price breaks beyond that range. The proposed stop is at the range midpoint, while the profit target is one full range beyond the breakout boundary. The author describes this setup as having a 2:1 reward-to-risk ratio and moving the stop to entry after price travels the initial stop distance in the trade’s favor.

An accompanying indicator displays the evolving range and, after 10 a.m., plots targets and proposed break-even levels. This is a personal strategy description and charting aid, not an evaluation: it supplies no trade sample, market conditions, slippage assumptions, or performance statistics. The precise time window, instrument, and platform-specific indicator logic constrain how directly the method can be applied elsewhere; the post requests feedback rather than presenting validated results.

Key ideas

• The strategy defines its opening range from 9 to 10 a.m. on a five-minute chart.
• It takes a long or short position when price breaks beyond the range.
• The proposed stop is at the range midpoint and the target is one range beyond the boundary.
• The author moves the stop to entry after a favorable move equal to the initial stop distance.
• The post gives no backtest or performance evidence.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.