Hi, I'm Chris Capre, founder of 2ndSkiesForex. I'm a verified profitable trader and trading mentor. As a professional trader, I specialize in trading Price Action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18 years of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.
With the holiday coming tomorrow, I wanted to write a short price action article with 3 quick, but highly useful tips for using a breakout trading strategy. If you can add these forex breakout strategy tips to your price action toolbox, you can significantly increase your success rate when trading.
1) Time of the Day
One of the key components to a successful breakout is volatility. When you have greater volatility, you have more orders/players behind the market and therefore increase the probability the breakout bar will have more force behind it. This helps the breakout bar to take out more stops and push the market further in the breakout direction.
But, volatility fluctuates tremendously throughout the day. Statistical …... Keep reading