Im curious if anyone here is using the opening price principle in their trading? Opening Price Principle - A stocks high or low for the day is within 20% of the open 70-75% of the time. This principle necessitates that the safest trades have to be long above the open and short below it. If anyone is id like to ask how its working for you and what pitfalls are you running into with it. Also what you may be using to refine it. One idea ive had is to combine it with with other confirming patterns like previous bullish or bearish candlesticks. For instance pick a bulllish candle formation (past couple days) and play them long if they gap up slightly, fill the gap to the previous days high or close then break over the open. This gives you confirmation that the candle pattern is strong and if market confirms and you are over high of day you also are using the opening price principle. Same thing could be done short. Or for more playable trades you could just use 2day high or low and go long say over the 2day high if they are not to far from the open. In other words if the ATR is 3 points then it might not be wise to go long a day that it opens below 25% of the previous days high even if it breaks to new ground and is over the open. Larger gappers that fill but cant make new ground might be good for this as a buy or sell when they approach the open agian. Just some ideas.....let me know what u think. Travis.