Thanks volpri,
I understand what you are saying here. Basically since 80% of breakouts fail in a range, just buy bottom and sell stops because the probability of win is high.
For example, if I just blindly (no waitiing for rejection bar) place limit sell and or buy orders at those support and resistances leves in the range, odds are price will go down because of failure of breakout.
Just trading your concept with 2 contracts/lot (I can not afford more now), would have made about $1000, with one loss of money.
All based on the 80% failure probability of breakout failure.
Of course testing this theory is a requirement
View attachment 203162
I can add arrows properly hours after the fact too...