It's called "straddling".
(It's much more commonly used - and discussed - in the field of options trading than in forex trading, and there are reason for that. )
It seems that way, to some. Granted: it's superficially an attractive proposition, but the reality is typically rather different. Unfortunately, as is so often the case, understanding the detail of why requires quite some experience, which by definition you don't have just when you most need it; and isn't trivially easy to summarise briefly.
I'll try, though ... (it usually ends up not being "briefly", when I try ... :8: )
For the purposes of becoming profitable, overall, expectancy matters much more than win-rates: making steady profits safely isn't about "what proportion of trades you can win", it's about "winning more collectively from your winning trades than you lose collectively from your losing trades". Straddle trades can have high win-rates, but the realities and practicalities of using this approach for forex trading often predicate many small wins and few big losses, and that's stacking the deck against yourself.
In practice, unless you have a lot of understanding and experience of market movements, it tends not to be a recipe for success because of all the whipsaws within ranging markets.
Finding something that's trending (or having the patience and discipline to wait until something you trade is trending) and entering trades in the direction of the underlying trend is a far better and more productive approach, overall. In spite of the fact that markets are - in conveniently tradable time-frames - ranging more often than they're trending.
The bottom line is that you'll almost certainly do much better if you approach "entries" from the perspective of finding good places to enter long in an uptrend and to enter short in a downtrend.
Long term, successful trading is all about probability functions, and so is learning to trade: it's a good idea to concentrate your time, effort and energy on approaches that have been well observed to work for a higher proportion of aspiring traders, even without understanding all the reasons behind why they have done so.
In summary, I strongly advise against starting out by trying to learn to trade ranging markets.
(Not the greatest or clearest explanation, I know, but at least I didn't write a "book" about it. :8: )