How and When to Take or Avoid Breakout Trades

I found this video to be useful

I skimmed through some parts of the video, anybody who wastes a full hour of their life on it deserves to never get it back.

Could be a waste for you not for a rookie

Did you watch the whole thing?

Try to live with the market from Asia sessions, Europe and US sessions. Do it full time at least 1 month, and you might get a feel of it and in-sync with the market's behavior and pattern.

Market opening and closing.

News data -> very high impact etc. -> Only for volatility, as direction is not known within that split seconds during impact. Only upon impact PA will pushed price out of range often. Take the position after the news to safe approach then to be caught against the new flow of trend upon impact. -> go for pull back add on retrace or buy higher than the first spike or sell lower than the first spike.

Then you will figure out when break out is likely to be valid or not.

break out -> tentatively = buy higher than highest hi or sell lower than lower hi. Price should break r or s and sustain above or below that level and move into another range. If breakout is valid, often price action will surged past with RSI above 70 or below 30 where price moved out of range.

Price action - > Mara buzo - > Fat body candle trader should pay attention to, with lesser area of shadow such as wick or pin. Mara buzo should overlap and close above highest hi or lowest lo. Followed by a Doji or hanging man or inversed hammer as test after the marabuzo moved out of range.

Breakout worked best during impact such as during AUD data like GDP, unemployment data etc which normally have higher volume during that particular hour. Or, during London opening with high impact EUR or GBP data or during US sessions during high impact hours again. Price action should move along with fundamental to provide volatility, technical pa itself is quite weak now due to poor volume and tend to range and keep within a bid or offer like range bound supply/demand until a catalyst of a fundamental impact.

traders should mark out certain timing that false break often occurs such that it break support/resistance but next hour reclaimed back very shortly, breakout should move in favor of the trader in buy hi or sell lo, if price don't seems to be decisive to break and hold, then trader should cut the position quicker.

here sharing a pic of how a breakout normally moves. Its hardest part for trader to end their trade decisively during price hesitation at level of r or s. But tentatively, if trader can keep losers smaller, when good break out happens, they can nail a good home run. And that's how the fx trading george soros legend takes on, he like to be that lead within that marabuzo where most traders are buying lo and sell hi. He will lead the price to another area and in the flow of trend.

My opinion - > that video is quite hard to see, because a chart should be as naked as possible, and not filled with a lot of distractions.

Thanks for taking time to clarify things for me your effort is highly appreciated