I'm interested in feedback from anyone who places orders on both sides of a price consolidation. For example, say a stock is in midday consolidation between 19.90 - 20.10. You place a buy order just above the high of the range, and a short order just below the low, then go with the trade that gets filled, assuming that a breakout or breakdown from consolidation should provide a strong move.
Do you find this strategy profitable?
How close to the high and low do you place your orders?
Do you find this strategy profitable?
How close to the high and low do you place your orders?