High Probability Breakout Trading in Forex 2.6
Summary:
One forex trading tip is using divergence coupled with the Donchian Channels to enter into a trend. This is a video version of “
How to Keep from Chasing Extended Trends
” with a practical application of the methods using
forex cross pairs
, namely the
CADCHF
,
GBPCAD
, and
EURAUD
as examples.
Head Trading Instructor Jeremy Wagner discusses:
*Using a bias on a market to implement a breakout strategy on
*How to use the Relative Strength Index (RSI) and the Donchian Channel Indicator to identify when a trend has corrected deep enough
*How to use the Donchian Channel Indicator to identify entry and exit points of a trade
Additionally, half way through the video I walk through how to download the
Donchian Channel
Indicator to the
FXCM Marketscope charts.
Best of luck trading!
—Written by Jeremy Wagner, Head Trading Instructor,
Education
Follow me on Twitter at @JWagnerFXTrader.
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To learn more about trading with the RSI, enroll for this free RSI course.
Register HERE
for the 20 minute RSI course
.
