Capitalization of failed breakouts

dear friends.
i have been using this technique for a few months. this has given me good
income so far. for the benefit of my fellow traders i am giving it here.
this method clicked my mind accidentally.i was going through a method of
trading breakouts.there i read that almost 60% of the breakouts fail.
i started to check how to use the failure of breakouts.and then i found this beautiful technique.
the technique--
go on looking into the 10 min candle charts of nifty or any frontline high vol stocks.look for the recent high and recent lows of two or more candles .
on charts a resistance and support point are obvious.they are the recent high and low respectively.now look whether the breakout of the recent high is able to sustain 5points above in the case of nifty and similarly set a point in stocks.if yes then its a breakout if no then its a failure.if the close of this breakout candle is below the break out line then you can short the scrip or nifty with a stop 3 point above the breakout high.here the trade should be reversed as well.
i do the vice-versa in case of shorts, and call it a failure of breakdown.
i am easily getting 20 points in my such trade everyday.and i am able to do this atleast 5 times in a day with nifty and my selected few stocks.
thanks.

dear friends.
i have been using this technique for a few months. this has given me good
income so far. for the benefit of my fellow traders i am giving it here.
this method clicked my mind accidentally.i was going through a method of
trading breakouts.there i read that almost 60% of the breakouts fail.
i started to check how to use the failure of breakouts.and then i found this beautiful technique.
the technique--
go on looking into the 10 min candle charts of nifty or any frontline high vol stocks.look for the recent high and recent lows of two or more candles .
on charts a resistance and support point are obvious.they are the recent high and low respectively.now look whether the breakout of the recent high is able to sustain 5points above in the case of nifty and similarly set a point in stocks.if yes then its a breakout if no then its a failure.if the close of this breakout candle is below the break out line then you can short the scrip or nifty with a stop 3 point above the breakout high.here the trade should be reversed as well.
i do the vice-versa in case of shorts, and call it a failure of breakdown.
i am easily getting 20 points in my such trade everyday.and i am able to do this atleast 5 times in a day with nifty and my selected few stocks.
thanks.

dear friends.
i have been using this technique for a few months. this has given me good
income so far. for the benefit of my fellow traders i am giving it here.
this method clicked my mind accidentally.i was going through a method of
trading breakouts.there i read that almost 60% of the breakouts fail.
i started to check how to use the failure of breakouts.and then i found this beautiful technique.
the technique--
go on looking into the 10 min candle charts of nifty or any frontline high vol stocks.look for the recent high and recent lows of two or more candles .
on charts a resistance and support point are obvious.they are the recent high and low respectively.now look whether the breakout of the recent high is able to sustain 5points above in the case of nifty and similarly set a point in stocks.if yes then its a breakout if no then its a failure.if the close of this breakout candle is below the break out line then you can short the scrip or nifty with a stop 3 point above the breakout high.here the trade should be reversed as well.
i do the vice-versa in case of shorts, and call it a failure of breakdown.
i am easily getting 20 points in my such trade everyday.and i am able to do this atleast 5 times in a day with nifty and my selected few stocks.
thanks.

hi,
as i have told earlier this method was an accidental discovery for me.
as i was going through the breakout theory , i noticed a line that said that most breakouts fail so one has to be careful in trading breakouts.
so i decided follow the reverse i.e. failure of the breakout as i thought that it would give a greater success ratio.
so i started paper trading it on nifty,then as i gained confidence i started doing it on frontline stocks too.
i didnt backtest it i just went on doing it.
so i will not be able to post the previous results but i will certainly be posting
the trades that i do.
i will apprecite if fellow friends and seniors too can give light on it.
thanks