Posts Tagged breakout trading
This was something which I saw yesterday but I didn't have the confidence to trade it and didn't. I had emailed this to a few of my trading friends to get their view but they weren't sure either. Anyway, imagine the chart below but without todays up bar.
The way I saw it was this, there was an obvious support as draw below at approximately the 15650 level which can be seen very clearly in the daily charts. The market had bounced off this a few times already as you can see. With the latest pri
March 13, 2012
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Hi all,
Firstly I apologise for the lack of updates to the site, I'm still very much alive but have been away for a long holiday and now back!
Well, I have been watching the markets since I've been away but there has been very poor internet connection which meant that it's not been possible to look at the short term markets as much as I would have liked to.
I have been doing a lot of research also and been looking at playing daily and weekly breakouts.
An example of a trade which I p
October 26, 2011
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![Monster Rally on the GBPUSD]()
The GBPUSD really powered ahead today.. I was trading my 4-to-7 breakout strategy and got my 30 pips. It seems pathetic when the market powered on another 170 pips or so.. still, a profit is a profit!
The range was 14632 and 14597.
I didn't trade the 9-to-9 however. If the range is over 120 pips or so, the movement has already been too large for the day. Also, I can't scale my trade to be small enough so that the hefty pip stop loss is a mere 5% of my trading account.
The top
June 14, 2010
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