Thank you Anil.
Does that mean you have to scratch a lot of trades at low loss? For instance, there are lot of trades where it looks like a good break-out on breakout day but after about a week, price falls back into previous trading range trading range. Very few breakouts seem to move fast (without pullback or neat pullbacks without tails extending below previous pivot low).
That brings another question to my mind - i think you use stops on closing basis (sorry, i made this assumption based on reading of your thread). Do you wait until bar closes or do you exit on breach and then re-enter if price closes above the SL? - Because it is psychologically tough as you don't know if after 1 test, price will again test and push lower the next day. Also, if you wait for close, there is a possibility that price just drifts lower through the day and you have to close at much lower than SL - this issue mainly arises when price has opened well and during the day due to news, tests support and hangs around that area for sometime to slowly push lower.
In your opinion, how long (say, no. of bars so that TF is not a constraint) does it take to form and idea on whether price has accepted overcoming of previous resistance / support?
Thanks in advance for your clarifications