My main point was the high relevance to S1 and R1 in our (forex) industry. Building a method based around these crucial levels is not too bad a shout IMHO. Like I say not for me but I've seen a lot worse.
DislikedThe main issue is, if you bought at S1 then you'd likely be going long in a downward trend, cause it must been going down to get there, if the longer trend is up then with enough breathing space and buying more ( might not turn enough to be worth it from 1st position ) you've got good odds that it will turn back up.
Double bottom on a S/R will likely create a small bounce, to sucker people in you can profit from that if your quick, but triple bottoms inspire more confidence sucker many more people in which regret wussing the double bottom,...Ignored
"The meek shall inherit the earth.." Yeah right, good luck with that shit..