interaday brick out trading strategy

This is a very simple and traditional trading strategy based on Breakout. I use Fibonacci ratios to get the targets & Stoploss. When the Day high/Day Low broke there will be some pressure, we are going to use this pressure in this strategy.

From 9.00AM to 9.30AM just watch the market. Take the 30 mins high & 30 mins low.

Mostly Market will break high/low with in 10.30am.

Trade Trigger
We should buy @ High Break
We should short @ Low Break

I use the Fibonacci Ratios (0.5, 0.618, 0.786, 1) to get targets & Stoploss.

SL
Long SL= Buy Price - (High-Low)*0.5
Short SL= Sell Price + (High-Low)*0.5

Targets
Long T1 = Buy Price + (High-Low)*0.618
Long T2 = Buy Price + (High-Low)*0.786

Long T3 = Buy Price + (High-Low)*1

Short T1 = Sell Price - (High-Low)*.0.618
Short T2 = Sell Price - (High-Low) *0.786
Short T3 = Sell Price - (High-Low) *1