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Where should stops go if buying an upward breakout from a trading range?

The detailed question was:

I am developing a medium to long term trading plan based on breakouts from significant trading ranges (consolidations). However, I am struggling with where to place my initial stop losses. For the initial stop loss on a long term trade I prefer a technically based stop rather than one on volatility and have identified the following alternatives (all based on weekly charts):

a) Just under the lows of the trading range

b) Just under the last low within the trading range (a trend stop)

c) Just under the breakout point (i.e. just below the highs of the trading range)

d) The mid-point of the trading range (as per David Fuller using P&F charting)

From my experience (a) and (b) are the best.

I put my stop under the lows of the trading range unless the stock is very clearly already trending prior to breakout. If it is, I use the trend by placing my stop just under the last trough of the trend. If it was tested several times, it is also a much safer stop, I feel.

Using either of these can give a lot of your capital allocated to the trade back to the market. However, this is not the point. The important way to look at it is that we never risk more than 1 to 2 % of our capital on a trade, so the wider the stop, the smaller the position. The risk is the same for a trade with a close stop or a trade with a wide stop.

I have seen many use the breakout point. The reasoning is that it is an old resistance level and therefore should become support. However, support and resistance are not exact levels and there are frequent over-shoots. I find I get stopped out too often.

The mid point has no basis in technical analysis and I do not understand its logic other than reference to the old numerology stuff about 50% retracements. I do not believe in magic numbers, so this stuff is illogical and irrational to me.