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Edge of breakouts 4 replies

Breakouts

Do you guys use a particular chart to let you know when a pair is on the verge of a breakout? I generally like trading from the 5-min chart, but i'm thinking that a 1hour or 2 hour chart will tell a truer story as to when a pair is about to break support/resistance.

thanks much
Quoting awcmon
Do you guys use a particular chart to let you know when a pair is on the verge of a breakout? I generally like trading from the 5-min chart, but i'm thinking that a 1hour or 2 hour chart will tell a truer story as to when a pair is about to break support/resistance.

thanks much
I found this img of MT4 using breakout indicator(see attachment)

anyone using it?
Attached Image
I use the bollinger bands, set to 20 periods, on the 15M 30M 1H charts, BBs are great for watching breakouts and picking entry/exit points
Quoting americanteek
I use the bollinger bands, set to 20 periods, on the 15M 30M 1H charts, BBs are great for watching breakouts and picking entry/exit points
Bollinger bands surely tell the moment a breakout can be expected but they do not tell about the direction.In my view direction can be assessed from the higher time frame charts.
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