Hello,
I enjoy trading resistance and supports breakout.
I am trying to put together a simple support and resistance breakout strategy to back test and record the right data in my spreadsheet to analyze after some manual back testing.
My questions is:
After a failed breakout (for a loss or breakeven), what type of data can I collect to determine when to re-enter the level (Support or Resistance)?
The first arrow, I would enter as price breaks resistance. The second arrow, i always…