- Beginner
- Intermediate
- Advanced
- Completion
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BeginnerEarly Stages for Beginners8 Topics
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Forex Terminology11 Topics
- Major and Minor Currency Pairs
- Basic Forex Terminology
- Pips & Ticks
- The Broker & The Spread
- What is a Lot?
- Stop Loss & Take Profit
- Margin & Leverage
- Retracement & Reversal
- When Can I Trade Forex? Sessions - Market Open and Close
- 3 Types of Analysis (Technical, Fundamental, Sentiment)
- 3 Ways a Market Can Go (Up, Down, Sideways)
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Margin & Leverage2 Topics
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Personal Psychology Questions2 Topics
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Psychology for Beginners7 Topics
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IntermediateIdentifying Scams2 Topics
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Brokers for Beginners5 Topics
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Technical Analysis13 Topics
- Types of Charts
- Understanding Japanese Candlesticks
- Candlestick Patterns For Beginners
- Single, Double & Triple Candlestick Patterns
- Support and Resistance
- Confluences w/ Candlesticks & Support & Resistance
- Trendlines
- Counter Trend Trading/ Counter Trend Lines
- Fibonacci
- Moving Average
- Top-Down Analysis
- Fakeouts
- Consolidation Trading (Breakout, Retest, Continuation)
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Market Structure5 Topics
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CompletionRisk Management for Beginners8 Topics
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Fundamental Analysis9 Topics
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AdvancedUsing Indicators6 Topics
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Technical Analysis (Part 2)8 Topics
Breakouts in the Forex Market
Breakouts begin to form on our skin when we are stressed, pores are clogged, or our bodies carry an infection. They mostly appear where our skin has the highest concentration of oil glands.
Oh, my bad! We’re supposed to be talking about breakouts in the Forex Market, not skin breakouts.
Breakouts occur when price suddenly breaks out of an area of consolidation. Traders expect to see them when price has been consolidating or ranging for a long time. A breakout can also form when price breaches certain levels such as support/resistance, pivot points, moving average prices, or Fibonacci levels. Whenever we are trading breakout set-ups, our goal should be to enter the market at the best price possible. We want to ride with the trend until there is no more volatility left. Breakouts help us identify new trends or catch an existing one when it resumes from a period of consolidation. This is pretty simple and interesting, right?
Where to find Breakouts
- Support and Resistance
- Price Highs or Lows
- Price Channels
- Pivot Levels
- Round Numbers
- Chart Pattern Levels
If you think that we are just about to dive deep into some form of a complex mathematical formula, you’re wrong! Breakouts are quite simple to learn and apply in your trading!
There are three types of breakouts in Forex, but you’ll only need to know two of them in your entire trading journey.
1.Trend Continuation Breakouts
2.Reversal Breakouts
You don’t need to have an entire library of books to start using this excellent strategy. Now let’s take an extensive study of each of them.