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Username: Andrew Rating:  Asked to: Apinya Kamon Date Created: 18 Sep 2015 |
| Category | 17 |
| Tag | Forex |
| Question | What is a breakout? |
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Hello Andrew, In practice, a breakout is most commonly used to refer to a situation where the price breaks above a level of resistance and heads higher, rather than breaking below a level of support and heading lower. Once a resistance level is broken, it is regarded as the next level of support when the asset experiences a pullback Most traders use chart patterns and other technical tools such as trendlines to identify possible candidates that are likely to break through a support/resistance level. A breakout is the bullish counterpart to a breakdown. |
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