Breakout trading strategy is often used in conjunction with trading the patterns such as the double bottom, rising wedge, falling wedge pattern, etc...Despite identifying the patterns, trading the breakout could be tricky if you fail to identify the two characteristics I cover in the video.

Find out how to trade the rounding bottom pattern with breakout trading strategy that will increase your winning rate in the video below. 

 

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Editors’ Picks

EUR/USD Price Analysis: Struggles above 1.2050 inside rising wedge

EUR/USD fades the previous day’s bounce off 1.2060-55 support confluence while easing to 1.2078 amid early Friday’s Asian session. 

EUR/USD News

GBP/USD under pressure below 1.4050 amid renewed USD demand

GBP/USD trades pressured below 1.4050, as the US dollar remains broadly bid amid risk-off sentiment. Rising inflationary pressures and Brexit jitters over NI keep investors on the edge. Bailey's speech, US data in focus.

GBP/USD News

USD/JPY: Remains confined in a range, above mid-109.00s ahead of US data

USD/JPY extended its sideways consolidative price action through the mid-European session. The set-up favours bullish traders and supports prospects for a move beyond the 110.00 mark.

USD/JPY News

Editors’ Picks

EUR/USD Price Analysis: Struggles above 1.2050 inside rising wedge

EUR/USD fades the previous day’s bounce off 1.2060-55 support confluence while easing to 1.2078 amid early Friday’s Asian session. 

EUR/USD News

GBP/USD under pressure below 1.4050 amid renewed USD demand

GBP/USD trades pressured below 1.4050, as the US dollar remains broadly bid amid risk-off sentiment. Rising inflationary pressures and Brexit jitters over NI keep investors on the edge. Bailey's speech, US data in focus.

GBP/USD News

XAU/USD respects the 10-day EMA

Gold could be on the verge of a lower low, but the hourly time frame is key. The hourly support structure is guarding a break to test bullish commitments at 1,800. The 10-day EMA and confluence of the 50% mean reversion are also offering support. Gold Weekly Forecast: XAU/USD could target 200-day SMA

Gold News

Yearn Finance Price Forecast: YFI eyes consolidation after quick surge

Yearn Finance price tagged the channel’s upper trend line yesterday, falling just short of $100,000 and 261.8% Fibonacci extension target at $102,900. The sharp reversal from the trend line marks a significant turning point for YFI that will shift price action to consolidation from the uptrend beginning at the April 25 low. 

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US markets lead the recovery as jobless claims decline

Ongoing inflation fears remain, yet improved jobless claims help lift spirits in the US. Meanwhile, UK reopening stocks have been dealt a blow after SAGE claimed that a rise in the Indian Covid strain could slow the pace of lockdown easing. 

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