absolutely, this method is out the window for now. But it does work on downtrends as well, for in 2008 this strategy yielded the most returns and it was a massive down curve. This is just following the trend, if you catch it then you make money, if you don't then its just backtesting on a piece of paper.
You dont long and short simultaneously, I think the OP worded it in a confusing matter but I understood what he said. I think an apology is in order from the offending guys.
that is normal he always has problems with reading comprehension. He even attacked a kid if he didn't get any handouts.
I read an article that analyzed data and concluded that if you would have been buying gold overnight and shorting during the day session you would have made a killing in recent years
These little "ghost methods" if you will exists everywhere in the market. You just have to learn to look in the right areas.
step 1: go long huge overnight expecting to profit next morning step 2: wake up next morning to find ES locked limit down b/c of black swan step 3: goog suicide hotline
Don't forget that you got lucky. Had you done the same from 2002 to 2004, you'd be scratching your head now; from 1992 to 1997 and you'd be crying now (I ran your strategy). Also this year, the strategy is a loser. Nothing wrong with dumb luck but I suggest you take the money and run (unless you develop something worthwhile).