FOREX Training | FOREX Trading - February 8, 2007

The New York session started in a tight range on the 15 minute chart. However, price was bouncing off of the 200 EMA on the hourly chart. It was also being supported by the Support Pivot Point (S1). All we needed was a clear break to the upside for a target of the Resistance Pivot Point (R1). With a breakout strategy such as this, its a good idea to use Fibs and Pivots, as they are your leading indicators. Live FOREX Training | Everyday! http://www.fxbootcamp.com

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[Scottsignal]

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[coolnine9]

Good example of a range breakout and being patient enough to enter on a pullback to the range (former resistance is now support). Also good remarks near the end on developing consistency which will build your confidence.