Basic rules to follow for this strategy:
- Trade in 5 min chart: This is very suitable for intraday.
- 1st candle should close above previous day high – 9.20 am candle: Market opens at 9.15 am, you have to look at this point. mark the previous day high level to read this better.
- Entry only above first candle high. Stop loss, little below than the 1st candle low
- Target 1:1 risk reward