Yes buddy you can do that, but suggestion putting into practice, will also need to see how many times that will work for you. a suggestion to be considered or not again will take more testing on the previous charts just to see does it work or no. As per my experience, the first 5 min bar break does wonder but also some times give some false trades too, but waiting for the pivot and then break of the range most of the time had given good result, the probability of false trade when you will till the pivot and range break is much lesser than from the 5 min break, see for yourself on the previous charts, that will help you to decide which is better.
There may be other consideration which might help you to decide, like for todays charts, the first 5 min bar, touched the previous high resistance level and then close below the resistance level, so this gives an excellent opportunity to short just below the low of the 5 min bar.
But this is just a suggestion on when to consider the 5min bar break, not to put into practice till the time you understand the logic behind it.
Please see this has nothing to do with ambush trading, trade only with the method you are supposed to, this kind of observation will help in better trading. Do not confuse with extra knowledge, apply only where its needed.
There may be other consideration which might help you to decide, like for todays charts, the first 5 min bar, touched the previous high resistance level and then close below the resistance level, so this gives an excellent opportunity to short just below the low of the 5 min bar.
But this is just a suggestion on when to consider the 5min bar break, not to put into practice till the time you understand the logic behind it.
Please see this has nothing to do with ambush trading, trade only with the method you are supposed to, this kind of observation will help in better trading. Do not confuse with extra knowledge, apply only where its needed.
