7/7 Analysis: 2 Quick & Profitable Breakout Trades
When we do our initial analysis, we can see the JPY (yellow line) is the strongest followed by the USD (blue line). The EUR (pink line) is clearly the weakest.
However, we don’t have current momentum in the market (if there was, the lines would be turning steeply in the direction of the current trend).
So because there is no current momentum, we would put a pending sell 10 pips below the price so that it will trigger if the trend continues and if not, our order would not be executed and we’d have nothing at risk.
- EUR/JPY SELL
Today, the trend did continue and you can see where the order was triggered. This pair went down over 30 pips in our favor very quickly.
When you watch the entire video analysis below, I’ll show you a similar result on the EUR/USD SELL:
You can see that our Currency Strength Indicator is an effective tool for picking out the highest probability, lowest risk trade set ups while avoiding market conditions that aren’t favorable. If you keep using this tool every day along with our daily Forex analysis, you will increase your win rate and be on your way to becoming a profitable trader long term.
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