One of the most popular intraday trading techniques used by professional traders is the Opening Range Breakout.
Since its conception, the Breakout strategy has evolved into a number of different strategies.
The first extensive presentation of this idea came in Toby Crabel's book "Day Trading With Short Term Price Patterns and Opening Range Breakout.
" There is also a book by Mark Fisher's, "The Logical Trader" and the eMESA mechanical trading system.
The Opening Range Breakout (ORB) has been the subject of many discussion threads within trading forums.
As a part of your trading system, you can define the Range however you like.
Those of you who are Better Trade followers might compare this to Darlene Powell's First Hour Low/High.
Some professional daytraders only use 5 minutes or 15 minutes.
However, for our short introduction, we are going to define our Range as the first 30 minutes of trading.
At the thirty minute mark, we can draw a line on our chart or make a mental note of the highest price and lowest price during this time frame.
So the basic premise of defining the Range is that your bias for trading the underlying stock will be determined by where the stock is trading relative to the Opening Range.
Here is a list of rules for this strategy:

• the stock is trading above its opening range you should have a bullish
• if the stock is below the opening range you should have a bearish bias
• Until the stock is trading outside of the opening range the opening range does not offer a bias.
  
• Use a profit target to identify risk:reward ratio before initiating the trade
• Use a stop to protect you from losing trades
• The Trend is Your Friend - Breakouts in the direction of the trend are most successful
• Volume equals market sentiment

The Breakout strategy anticipates the continuation of a stock's momentum as it trades through the high of the opening range and the high of the day.
The high and low of the opening range often represent significant price levels in determining a stock's direction for the day, and therefore these are good levels to use to establish positions and determine stops.
The ORB set up can be exploited by many different trading styles including scalping, swing trading, and position day trading (day trades held for a good portion of the trading day).
A scalper can trade the volatility, support, and resistance often found at these levels, while a position day trader can use the break out or retracement to the high of the OR to establish a well defined, low risk trade.
And the swing trader can use the OR break out time the entry into a trade that met all the longer term criteria of the trade.