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You've just described market structure in a nutshell and it happens regardless of timeframe. The tops and bottom rails of the range act as S&R levels, you then get the pop or drop then retest followed by the continuation to the next level of S or R! I know a few guys who apply Kauffman's adaptive moving average to trade this cycle regardless of news. They just enter at a level where the moving average in flat - sideways price action so at the range extremes would be a good example and then to target a level above or below depending on direction and by looking left at nearby flattening of moving average.
They prefer entering at range extremes because more likely to see hammer reversal patterns, got to be a true hammer so they wait for it to close on a higher timeframe (more significant) and a retest adds confidence that it's working, else they get out quickly. More of a mechanical scalping strategy.