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retest The retest of former support or resistance provides a trader with an opportunity to enter the market If a market. Perhaps the most famous traders in the history of trading were the Turtles. Leave your comment or question below and I will get back to you within 24 hours). In other words, if you had risked just 2 on this trade, you would have made.6 (3.8 x 2). In this case, the eurusd moved to the S1 level. One major difference here is that there was no retest of former support once the market broke to the downside. A stop loss below the breakout candle meant a 50 pip stop with a potential gain of 600 pips. So you can probably guess how well go about setting a profit target. The best way to do that is to think of you as a person. Breakout trading allows great risk-reward ratios.
Technical traders love breakout trading systems. In doing that, adjust your strategies and use the ones that fit you as a person. In breakout Forex trading, the time frame plays an important role. Again, money management comes to save the day. Nothing but a disciplined approach that works best on bigger timeframes. After two unsuccessful attempts, the market finally breaks through support. Below is the usdjpy four-hour chart.