8/28 Analysis: 4 Quick & Easy Profitable Breakout Trades
When we start our analysis just before the NY session opens, we see the JPY (yellow line) is strong and getting stronger and the CAD (green line) is weak and getting weaker.
However, we don’t have real strong momentum currently in the market so we would place a pending sell order 10 pips below the current price.
- CAD/JPY SELL
The horizontal line that I have on the chart above shows where the pending sell order would be triggered. From there, it quickly hits the 20 pip profit target (within 15 minutes) if you were following our simple breakout strategy.
When you watch the entire video analysis below, I’ll show you 3 more quick and profitable breakout trades you could have entered today:
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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