is one of the most commonly used by professional and successful traders. Even though it is used by professionals, it is really simple to implement using regularly updated technical charts which are readily available online.
Breakouts in the forex market occur anytime that a price breaks above or below a resistance or support point.
These points are determined by technical analysis and anyone can find what the technical points are on charts online.
Sometimes I use the free technical charts available to all at fxstreet.com. However, I highly recommend the technical
analysis charts and other resources inside the members area at plus.dailyfx.com
For those of you who are very new to FX trading or who have never studied the breakout strategy, I will explain the definition of support and resistance points. A support point is a low point which has shown support for the particular currency pair (meaning the last time the pair touched that level it did not fall further). And a resistance point is a high point that the pair has tested but has not been able to break above.
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