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The Breakout-Retest Trade
Here is a simple price action strategy anyone can trade on almost any time frame.
This forex breakout strategy is based upon a simple price action formation called the Breakout-Retest formation.
The key element involves price breaking a major high or low with a very impulsive move. The impulsive move suggests commitment from the institutions pushing price and the fact its occurring at a significant high/low adds weight to the move and price action around it.
Taking a look at the chart below on the EURUSD 4hr time compression, we can see how the pair dropped from 1.4050 all the way down to 1.3449 / 1.3443 forming a triple bottom at these prices. The pair then bounced …... Keep reading