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High Probability Breakout Trading in Forex 10.10

High Probability Breakout Trading in Forex 10.10

Jeremy Wagner, CEWA-M, Head of Education

Head Trading Instructor Jeremy Wagner discusses

*Benefits of a breakout strategy

*Using the Donchian Channel indicator to identify a breakout

*Determining which currency pair to trade

*Long Term US Interest Rates and why JPY could get weak

This week, we focused on AUD and GBP weakness while matching it up against the USD or CAD. Therefore, trading a breakout strategy on the AUDUSD, GBPUSD, AUDCAD, or GBPCAD.

In the webinar was a question about the Aroon Indicator. The recent article “How to Trade the Aroon Indicator” was referenced.

Additionally, a question was asked about the AUDCAD was moving higher today so why sell it. The answer rests on time frame of the trend analyzed.

Many other questions were asked starting about 30 minutes into the webinar.

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

To contact Jeremy, email jwagner@dailyfx.com. Follow me on Twitter at @JWagnerFXTrader.

To be added to Jeremy’s e-mail distribution list, send an email with the subject line “Distribution List” to jwagner@dailyfx.com.

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Take this free 20 minute “New to FX” course presented by DailyFX Education. In the course, you will learn about the basics of a FOREX transaction, what leverage is, and how to determine an appropriate amount of leverage for your trading.

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

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