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High Probability Breakout Trading in Forex 12.5

By , Head Forex Trading Instructor
05 December 2012 22:06 GMT

Summary: Learn the benefits of a forex trading strategy called breakouts. Identify the 2 key components which make breakouts higher probability using forex technical analysis.

Head Trading Instructor Jeremy Wagner discusses:

*Benefits of a breakout strategy

*Why December is historically tough for breakouts

*Which market conditions tend to perform better with breakouts

*Technical levels to watch on EURJPY, EURGBP, EURNZD, GBPUSD

This week, we focused on GBP strength and how I would not want to sell GBP. USDJPY is near significant resistance and may drag JPY pairs lower in the coming weeks. Stick to strong trends to trade the breakouts.

In the webinar, I referenced the EURJPY and technical points suggesting we are getting close to a top in price.

Learn Forex: EUR/JPY Largest Mover for Past 10 Days

Next webinars:

*Monday December 10 @ 9:30a ET (14:30 GMT) for US Opening Bell inside DailyFX Plus LIVE Classroom(available only for live FXCM account holders)

*Wednesday December 12 @ 12:00p ET (17:00 GMT) for Breakout Trading inside the DailyFX.com Live Trading Room.

---Written by Jeremy Wagner, Head Trading Instructor, DailyFX Education

Follow me on Twitter at @JWagnerFXTrader.To be added to Jeremy’s e-mail distribution list, click HERE and enter in your email information.

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05 December 2012 22:06 GMT