S+R bounces/breakouts

Beginner Questions
1

I have been trading breakouts (S+R, Master Candle, and NY session open) for a few months now and have been having decent success. However, I completely cut out trading off of S+R bounces and subsequently missed out on hundreds of pips.

I anticipate the breakout and pretty much ignore all bounces, some of which have bounced 50 to 100 pips.

Anyway I came up with an idea to incorporate both, but I would like to know if this would work.

My plan is to put a buy order on Support to profit off the bounce.
And in case of a breakout, I place an OCO across the support like, with another sell order below that.

Momentum indicators are helpful to speculate a bounce or breakout, but I’ve yet to find that consistent.

Anyway, would this work? I’d really like to incorporate bounces into my strategy.

2

You could overlay the momentum indicator eg put momentum 3 on the chart and then drag momentum 12 so they are in the same chart and then keep an eye on the divergences…

or use a macd ie 5, 20 5 for divergences

Or a cci

Those may help… takes practice.

To me… an excellent entry is the first lower high after an uptrend or the first higher low after a downtrend.