A lot of people want to know about a breakout forex strategy and how it works. Well, it’s actually not that sophisticated. I don’t want to bring you down by hearing that. It’s just simple correlated observation. You need to look at potential breakout signs and leverage yourself for a profit.

Like, you’ve noticed that the US dollar has been going up very fast during the month of October and that is definitely a breakout that has happened. You have to go back and look at that instance where the US dollar stopped going down and started going up.

What happened? Identify the characteristics of that moment.

Once you do that, go back and find another similar time for the US dollar where it was bottoming and went back up. Identify the characteristics and take note of the things that happened in both observations.

This means you always have to be on the ball because you want to catch these bottoms and ride the currencies back up for maximum profit. Like I said, it isn’t sophisticated, it just routine stuff. Just start doing it, observe the market and make a smart choice.