We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bearish
GBP/USD
Mixed
USD/JPY
Bullish
Gold
Mixed
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Notice

DailyFX PLUS Content Now Available Freely to all DailyFX Users

Real Time News
  • Silver, Gold, and $EURUSD thoughts from today's webinar - https://www.dailyfx.com/forex/video/live_events/2019/09/16/silver-gold-eurusd-forecast-JWweb-116.html
  • $EURUSD: Prices soon ripped-higher until resistance showed at a confluent area on the chart, as taken from the prior swing-low at 1.1109 that ran into a bearish trendline projection. Get your technical analysis from @JStanleyFX here: https://t.co/KlnCP4dpQ9 https://t.co/vu8AvJFvfa
  • 🇯🇵 JPY Trade Balance (AUG), Actual: N/A Expected: -¥346.3b Previous: -¥249.6b https://www.dailyfx.com/economic-calendar#2019-09-17
  • With increasing volatility in weather patterns, how might storms, hurricanes and floods rattle the supply chain for petroleum-based products and impact crude #oil prices? Find out from @ZabelinDimitri here: https://t.co/e91RRyBQ3z https://t.co/QJdJu2lNHf
  • The market for negative-yielding bonds has exploded in 2019 to a whopping $14 trillion against the backdrop of deteriorating global growth prospects https://t.co/kHqdF1ExbM
  • $ES_F $TNX https://t.co/AebApRQmlQ
  • 🛢 #CrudeOil and volatility analysis following Monday’s surge in petrol prices - via @DailyFX ➡️ Link: https://www.dailyfx.com/forex/technical/home/analysis/usoil/2019/09/16/crude-oil-price-spike-to-drag-volatility-higher-stocks-lower.html $USO $OVX #WTI #OOTT https://t.co/KiYJD4tTFN
  • How can traders avoid #FOMOintrading? Start by implementing a well-heeled plan taking only four hours per week. Get your insight from @JStanleyFX here: https://t.co/zXJ0j1YeAn https://t.co/xsAlM3Cqon
  • 🇳🇿 NZD Current Account Gross Domestic Product Ratio YTD (2Q), Actual: N/A Expected: -3.3% Previous: -3.6% https://www.dailyfx.com/economic-calendar#2019-09-17
  • #USDJPY pivot points (daily) – S3: 106.99, S2: 107.49, S1: 107.8, R1: 108.3, R2: 108.49, R3: 108.99 - https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
High Probability Breakout Trading in Forex 2.6

High Probability Breakout Trading in Forex 2.6

2013-02-07 01:42:00
Jeremy Wagner, CEWA-M, Senior Strategist
Share:

Summary:One forex trading tip is using divergence coupled with the Donchian Channels to enter into a trend. This is a video version of “How to Keep from Chasing Extended Trends” with a practical application of the methods using forex cross pairs, namely the CADCHF, GBPCAD, and EURAUD as examples.

Head Trading Instructor Jeremy Wagner discusses:

*Using a bias on a market to implement a breakout strategy on

*How to use the Relative Strength Index (RSI) and the Donchian Channel Indicator to identify when a trend has corrected deep enough

*How to use the Donchian Channel Indicator to identify entry and exit points of a trade

Additionally, half way through the video I walk through how to download the Donchian Channel Indicator to the FXCM Marketscope charts.

Best of luck trading!

---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.

To learn more about trading with the RSI, enroll for this free RSI course. Register HERE for the 20 minute RSI course.

provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.