Over the last few days, I have published articles which show a simple methodology which makes big gains and also tracked a live example for big profits. Lets look at the method and the live trade.
If you look at any Forex trend you will see that they start from and continue from new market highs or lows and any Forex trader should use breakouts for bigger profits. They don’t involve you having to predict anything, you simply trade the reality of price change as you see it on a chart. If you trade the right breakouts, you get the odds on your side and can make big gains and we looked at trade earlier in the week that did just that.
On Wednesday, we looked at the Euro V British Pound and the 92.00 support level.
This level had been tested several times and has now broken and at the time of writing, the pair sits at 90.70 or a gain of 130 pips; this was a simple trade anyone could do and make money from. I picked this as a good example but there are many more and if you look at any Forex chart, you will see opportunities to trade breakouts.
Most traders though never trade breakouts though, because they think they have missed the start of the move and to wait for prices to pullback but they don’t do this on the best breakouts, they continue in the direction of the break. Most traders want to predict prices in advance or buy low and sell high but this involves guessing, trading breakouts trades the reality and that’s why it’s so effective.
If you want to make money at Forex trading and enjoy long term success, make trading breakouts part of your essential Forex education, you will then be hitting some high odds trades and making some great Forex profits.