{"id":15325,"date":"2010-11-13T22:02:00","date_gmt":"2010-11-14T03:02:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=15325"},"modified":"2010-11-13T22:02:00","modified_gmt":"2010-11-14T03:02:00","slug":"what-is-forex-a-trade-breakout","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/11\/13\/what-is-forex-a-trade-breakout\/","title":{"rendered":"What Is Forex? A Trade Breakout"},"content":{"rendered":"<p><strong>By James McKee<\/strong><\/p>\n<p>When approaching an intraday trade it is very important that a trader  always bear in mind the chance of false breakouts and prepare  accordingly. When preparing to enter a trade it is important to look for  ascending and descending triangles, this is because the pattern  established creates a directional bias for the trade. With an ascending  triangle bullish gains are being bought at ever increasing levels while  the bearish levels are attempting to establish steady support. When  trading within these patterns it is best for the trader to keep the  pair&#8217;s previous pattern in mind before the triangle appeared.<\/p>\n<p>The direction a triangle takes on is an effort to break the horizontal  support or resistance. If the pair was going in this direction prior to  the formation of the triangle it makes the trade very potentially  profitable. The time of day one makes a trade in is also of the utmost  importance, because trading when there is high volume as opposed to low  volume is always a great idea. Due to this trading during the London  session is a great way to achieve the goal of making high volume trades.<\/p>\n<p>Making a trade during a time when there is high volume is key in  avoiding false breakouts as is often the case near the close of the  Japanese session. A trader&#8217;s schedule can be either be their best friend  or their worse enemy depending on when they are active versus inactive  within the market. The simple fact that many traders are not awake at  3AM eastern time means that they are missing out on the opening of the  London trading session, the period which happens to produce the highest  volume. False breakouts can of course occur during peak periods as well  and as we all know there are no guarantees in the Forex currency  exchange, but there are certainly advantages.<\/p>\n<h3>About the Author<\/h3>\n<p>Author is a Forex trader and financial analyst residing in  Denver, Colorado. To stay up to date on all the latest developments in  the financial world and beyond be sure to check out the <a href=\"http:\/\/forex.tradingcharts.com\/foreign_exchange_rates\/\">forex exchange rates<\/a> regularly.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Making a trade during a time when there is high volume is key in avoiding false breakouts as is often the case near the close of the Japanese session. A trader&#8217;s schedule can be either be their best friend or their worse enemy depending on when they are active versus<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-15325","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/15325","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=15325"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/15325\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=15325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=15325"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=15325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}