Identifying breakout | Forex Factory

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Identifying breakout

  • #1
  • First Post: Dec 28, 2009 10:05am Dec 28, 2009 10:05am
What do you look for when searching for a breakout ?
The maximum number of pips I've caught is +/- 40 and I haven't been able to go higher. In fact, most of the time I'm in the 5-15 pips range.
  • #2
  • Dec 28, 2009 10:32am Dec 28, 2009 10:32am
Depends what chart time you trade on. Also depends on the type of breakout and the time (liquidity).

Loot for right ange triangle where the hypotenuse (whatever its called the longer side) is the opposite side of the breakout.
Look for support and resistance levels and trade breakouts there, make sure its not end NY session though as often they are brokers pushing through to trigger stops then TP.
  • #3
  • Dec 28, 2009 7:17pm Dec 28, 2009 7:17pm
Quoting Heliocon
Depends what chart time you trade on. Also depends on the type of breakout and the time (liquidity).

Loot for right ange triangle where the hypotenuse (whatever its called the longer side) is the opposite side of the breakout.
Look for support and resistance levels and trade breakouts there, make sure its not end NY session though as often they are brokers pushing through to trigger stops then TP.
Well said, and aim for breakouts on the longer term charts rather than the short ones.
  • #4
  • Dec 28, 2009 10:38pm Dec 28, 2009 10:38pm
Quoting Intensity
What do you look for when searching for a breakout ?
The maximum number of pips I've caught is +/- 40 and I haven't been able to go higher. In fact, most of the time I'm in the 5-15 pips range.

If you are consistently catching positive pips, congratulations.

Each time frame has its own breakouts. There are a lot of forums here that handle breakouts. It is just up to you how much time you want to use.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #5
  • Dec 28, 2009 10:46pm Dec 28, 2009 10:46pm
I look out for daily/weekly breakout using pivot points. Setting up TP is always challenging in forex.
  • #6
  • Last Post: Dec 29, 2009 8:47am Dec 29, 2009 8:47am
usually I just look for open price in the next candle for breakout confirmation.

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