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Forex Breakout Strategy: Simple Trade, Simple Profits.

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  • Forex Breakout Strategy: Simple Trade, Simple Profits.

    Forex Breakout Strategy: Simple Trade, Simple Profits.

    FOREX BREAKOUT STRATEGY

    Forex Pair: Usd Chf
    In Forex trading, there are various forex trading strategies.
    I would like to show you a forex breakout strategy as shown in the chart above.
    It is simple yet highly powerful.
    In the chart above, we see a series of bearish bars (red bars) -> marked by the yellow arrow pointing down at the top of the picture.
    This series of price action bearish bars represent the selling momentum in the market. And the selling is gaining momentum with the increasing number of bearish bars.
    Therefore, we will be watching the chart for a chance to trade it down, considering that the trend MAY have change from an uptrend to a downtrend.
    Forex Breakout Strategy: Simple Trade, Simple Profits

    Soon after, it formed a big long price action bearish outside bar as marked by the yellow circle.
    (This confirms the downtrend as it has broken the previous lows of the previous uptrend)
    With the big long price action bearish outside bar, and the previous series of bearish bars.
    - It confirms the selling momentum in the market is very strong.
    Immediately after the bearish outside bar, it forms 2 smaller inside bars after which.
    Forex Breakout Strategy: Simple Trade, Simple Profits.

    What i see here is a setup for a forex breakout strategy trade.
    - Since the selling momentum is so strong, and with a price action bearish outside bar. We can place a pending sell order below the bar.
    Therefore, i will place a pending sell order as marked by the yellow dotted line.
    And my stop loss is above the previous bars opening and closing. (marked by the orange line SL)
    Our First take profit target will be the previous low (marked by the orange line TP1)
    And our final take profit target will be at the next low (marked by the orange line TP2), which also coincides with our 150 ema.
    Forex Breakout Strategy: Simple Trade, Simple Profits

    Forex Breakout Strategy
    Pls read through the explaination while looking a the charts for at least 2 times to fully understand what i meant.
    I hope you’ve learnt how i would have entered on the above situation (forex breakout strategy) and how you can add this method to your future trading methods.
    Do sign up above for our newsletter if you have not done so already as i will update you via email constantly with new forex trading strategies.

    Ezekiel Chew
    Asia #1 Forex Mentor

  • #2
    FX is a good part time job to earn easy money
    Last edited by JulieneTan; 28-05-2012, 04:34 PM.

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    • #3
      I find it quite hard to learn initially, still trying to absorb and taking time to learn. Heard from people that it's good money, that's why I'm trying to learn as fast and I can so that I can try to start on it soon.

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      • #4
        Which is a good platform to open an account? Is meta trader 4 good and reliable?

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        • #5
          MT 4 for newbie will not be easy to use. Try trading on demo for at least 4 to 6 months, get the hang of it first before going on live platform.

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          • #6
            It's not easy money at all. In fact it's much easier to lose all your hard earned money if you are not sure of what you are doing. Those who are new to the financial market will be blinded by seemingly easy profits. Reality is different. I have been monitoring the market and learning for the past two years, it's tough seriously. Of course the keys to trading forex successfully is to trade with a reliable system and strategies.

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            • #7
              There is a forex seminar at parkmall this evening 7:30pm. Anyone going?

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              • #8
                Originally posted by Rockwood View Post
                There is a forex seminar at parkmall this evening 7:30pm. Anyone going?
                What kind of Seminar is that? To teach you how to trade or the current market prospect?

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                • #9
                  Any winning strategies to share? I have been trading for one year, I realized that the forex market is quite heavily driven by market sentiments thus influences trader's decision by triggering our emotions and thoughts especially.

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                  • #10
                    The speaker guided us along on the indicators, and we discussed about the trend of the market as well. Quite a short seminar, hopefully next round can be longer so that we get to discuss more and learn more.

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