I would use a 5 min opening range. Fisher used a 30 minute range. I would also try his first hour pivot range. Price should be above the daily pivot range range and within 10% of the first hour high.
Here is a very short term chart with pivot range, if you look at this with yesterdays action it looks like a continuation pattern on a longer frame say 10 minutes
Hmmm really, that small? Keep the A-values the same in this case right? Also the time stop would have to be changed as well to remain consistent. I'm going to go over all the trades I've made in the last 5-6 days and see how this would effect it, thanks!
Use the first hour pivot range. Shan, please understand that you need to look at 1000's of trades to see what settings you want to use. Just looking at a few trades are not enough data points.
Ya definitely understand, I just want to have a basic understanding of how it would effect OR sizes relative to ATR etc. This way I can understand how to structure my approach.
Oh and wont forget the first hour pivot range...I bet this would be a great way to allow for runners once in a good trade.
Just remember Fisher uses a 30 min OR. He is worth more money then me. So take my suggestion with a grain of salt.