Today’s Potential New Breakout Signals
Today we highlight seven potential breakouts in progress that could prove valid on today’s close of trading (breakout signals only registered on successful closes beyond the breakout level). Note gold on this list as it has traded below the 15-day low close intraday today.
Table: Seven potential breakouts today and methods for trading
Note that the two at the bottom of the table (USDSEK and EURSEK) are repeats from yesterday as their closing prices yesterday did not cross the breakout threshold. Finally, note that there are other breakout candidates in the works, including GBPJPY and NOKSEK downside breakouts and a USDNOK upside breakout. Note that the stops for the example entry levels are generally bit more than 1 ATR from the example entry level (trade size or stop level may need adjusting depending on entry level to adjust risk levels – generally preferred to reduce position size than reduce distance to below 1 ATR from actual entry). These are not trade recommendations, rather examples for how to trade the breakouts. Exit date is simply nine days after trade entry, but 7-9 days is a rule of thumb for holding period and can prove shorter still as stops should be partially trailed once a trade moves significantly into profit.