Hi Saqeeb, There are many more experienced traders around here than me but I’ve done ok the last few years.
In answer to your question … personally, buying on high range (usually high Volume as well) bars of any duration on Stocks is generally a recipe for losing money in my experience.
I rarely chase price … if I miss … I miss and bad luck.
For the record, I broke my own rule about a week ago for the first time in a long time, and surprise … the trade lost badly!
Buying breakouts into new highs can be ok if the previous day/days are not wide range bars … but if a breakout follows a wide range bar, it will also likely stall/fail a high % of the time imo.
Again personal preference, but I would much rather buy the retracement of a move after the dust settles because large moves with large „crowds“ tend to create a lot of dust! Cheers.