There are several keys to trading an early morning breakout. First, you need to wait for a trading range to develop between 9:30 and 9:50 in the morning. This is the crucial “after the bell” period where most activity is seen. Second, you need to buy or short the trend between 9:50 and 10:10, after you see the range develop. Third, you need to have a clear price target in mind and a stop loss order in place in case your target isn’t reached.
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
Saturday, February 20, 2016
Friday, February 19, 2016
Trader Simulator
A day trading breakout is an influx of high volume trading that occurs right after the open. First thing in the morning, there is usually an influx of trading activity, due to the fact that most traders are putting in their first orders of the day. As a result, we tend to see higher momentum earlier in the day, even in a market that’s generally going sideways.Trader Simulator looks to address the weaknesses of beginner traders by providing access to the markets at a level you’re comfortable with.
Wednesday, February 17, 2016
AUD/USD Chart
Summary : Target Level : 0.6984
Target Period : 2 days
Analysis :
Channel Up identified at 16-Feb-17:00 2016 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 0.698 within the next 2 days.
Supporting Indicators :
Downward sloping Moving Average
Resistance Levels :
( B ) 0.7182Last resistance turning point of Channel Up.
Support Levels
( A ) 0.6984Last support turning point of Channel Up.
Target Period : 2 days
Analysis :
Channel Up identified at 16-Feb-17:00 2016 GMT. This pattern is still in the process of forming. Possible bearish price movement towards the support 0.698 within the next 2 days.
Supporting Indicators :
Downward sloping Moving Average
Resistance Levels :
( B ) 0.7182Last resistance turning point of Channel Up.
Support Levels
( A ) 0.6984Last support turning point of Channel Up.
Monday, February 15, 2016
USD/ JPY
Summary : Target Level : 114.4755
Target Period : 3 days
Analysis :
Channel Down has broken through the resistance line at 14-Feb-23:00 2016 GMT. Possible bullish price movement forecast for the next 3 days towards 114.476.
Supporting Indicators :
Upward sloping Moving Average
Resistance Levels :
( B ) 117.527Last resistance turning point of Channel Down.
Support Levels
( A ) 110.9825Last support turning point of Channel Down.
Target Period : 3 days
Analysis :
Channel Down has broken through the resistance line at 14-Feb-23:00 2016 GMT. Possible bullish price movement forecast for the next 3 days towards 114.476.
Supporting Indicators :
Upward sloping Moving Average
Resistance Levels :
( B ) 117.527Last resistance turning point of Channel Down.
Support Levels
( A ) 110.9825Last support turning point of Channel Down.
Thursday, February 11, 2016
EUR/GBP
Summary : Target Level : 0.7707
Target Period : 3 days
Analysis :
Channel Up has broken through the support line at 10-Feb-13:00 2016 GMT. Possible bearish price movement forecast for the next 3 days towards 0.771.
Resistance Levels :
( B ) 0.7851Last resistance turning point of Channel Up.
Support Levels
( A ) 0.7662Last support turning point of Channel Up.
Target Period : 3 days
Analysis :
Channel Up has broken through the support line at 10-Feb-13:00 2016 GMT. Possible bearish price movement forecast for the next 3 days towards 0.771.
Resistance Levels :
( B ) 0.7851Last resistance turning point of Channel Up.
Support Levels
( A ) 0.7662Last support turning point of Channel Up.
Tuesday, February 9, 2016
EUR/CHF Chart
Summary : Target Level : 1.1096
Target Period : 19 hours
Analysis :
Falling Wedge identified at 08-Feb-23:00 2016 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.11 within the next 19 hours.
Resistance Levels :
( B ) 1.1096Last resistance turning point of Falling Wedge.
Support Levels
( A ) 1.1019Last support turning point of Falling Wedge.
Target Period : 19 hours
Analysis :
Falling Wedge identified at 08-Feb-23:00 2016 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.11 within the next 19 hours.
Resistance Levels :
( B ) 1.1096Last resistance turning point of Falling Wedge.
Support Levels
( A ) 1.1019Last support turning point of Falling Wedge.
Thursday, February 4, 2016
EUR/CHF
Summary : Target Level : 1.1206
Target Period : 3 days
Analysis :
Triangle has broken through the resistance line at 03-Feb-21:00 2016 GMT. Possible bullish price movement forecast for the next 3 days towards 1.121.
Supporting Indicators :
Upward sloping Moving Average
Resistance Levels :
( B ) 1.116Last resistance turning point of Triangle.
Support Levels
( A ) 1.1099Last support turning point of Triangle.
Target Period : 3 days
Analysis :
Triangle has broken through the resistance line at 03-Feb-21:00 2016 GMT. Possible bullish price movement forecast for the next 3 days towards 1.121.
Supporting Indicators :
Upward sloping Moving Average
Resistance Levels :
( B ) 1.116Last resistance turning point of Triangle.
Support Levels
( A ) 1.1099Last support turning point of Triangle.
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