(I've been thinking very much on systems like this.)
This system is losing below level 5, but above it can make huge profits.
But I think you'll never reach the level 10 (that means a 100 pips breakout without 6 pips retrace - not usual). Level 6 is also a challenge (60 pips without 6 pips retrace), I guess for these breakout cases, a simple swinger system would be safer.