Learn Forex: High Probability Breakout Trading 01.16
Summary:
Price patterns indicate the possibility of
USDOLLAR
weakening over the next several weeks. Learn how to use a forex breakout strategy with the Donchian Channel Indicator to identify entry and exit points. A forex trading benefit of using a breakout strategy is that it can keep you out of SOME losing trades.
Head Trading Instructor Jeremy Wagner discusses:
*Anatomy of a breakout
*What 2 market environments are needed to improve the probability of follow through in a breakout
*Based on forex technical analysis (and using
EURUSD
,
USDJPY
, and
GBPUSD
), why the
USDOLLAR
may weaken
Price patterns suggest the EURUSD may reach 1.38 and GBPUSD may reach 1.64. See the explanations in the above video.
Also, if you need to
download
the
Donchian Channel Indicator
to your Marketscope Charts, it is available at no charge at FXCMApps.com.
As a bonus, around the 52 minute mark, a question was asked about
scaling into
positions. See how the emotion of indecisiveness influences my tendencies towards adding to positions.
In the webinar, I referenced these Trading Tips Articles:
-
Learn Forex: Basic Breakouts for Forex Trends
-
Be Fashionable: Trade Trends
-
Learn Forex: Entering After a Strong Yen Move
-
Learn Forex: 2 Benefits of Trading Forex Crosses
-
Learn Forex: Scalping Forex Momentum
-
Learn Forex: Ichimoku Key Lesson for the EUR & JPY Move
—Written by Jeremy Wagner, Head Trading Instructor,
Education
Follow me on Twitter at @JWagnerFXTrader.
To be added to Jeremy’s e-mail distribution list,
click HERE
and enter in your email information.
New to the FX market?
Save hours in figuring out what FOREX trading is all about.
Take this free 20 minute
“New to FX”
course presented by Education. In the course, you will learn about the basics of a FOREX transaction, what leverage is, and how to determine an appropriate amount of leverage for your trading.
Register HERE
to start your FOREX learning now!
