Disliked{quote} I try to do my analysis on the daily for overall daily bias, 4hr and 1h for intraday structure, entry on 15 and 5 minute. Ranges kill me because it introduces so much doubt that my analysis was wrong that I start entering in both directions then it takes me out of both directions and I take massive losses. After a long series of losses, I then know that the break out of the range is likely closer now and so "This could be the break out move" thought enter my head and I continue, knowing that the moment I stop trading, the range will break...Ignored
You can try and guess the direction it will break from the so-called range and you might make an educated guess and be correct. IMHO, it would be better to let price break out of the so-called range. At known points, if you understand where they are, price will be turned back and retrace the big breakout move as it is the market makers obligation to redistribute liquidity/orders over the illiquid area that the poorly auctioned breakout covered. The trick is to trade with the big money. When the market makers turn price around after the illiquid move away from the so-called range, it's then you jump into the trade - on the way back. Breakout traders are like cannon fodder so don't be one.
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