A Forex Breakout System is a very effective and profitable way to trade currency. Check out this video that goes over the basics of the Forex breakout system…
As you can see by the video, using the Forex Breakout system can happen from many different types of patterns like Triangles, Flags and Channels. The trick is to be able to identify these patterns so you can then wait for the breakout. Pattern recognition can be very time consuming and you need to learn how to do it correctly.
Luckily, there is a service that identifies the Triangle, Flag and Channel patterns for you… and alerts you to when these patterns are forming on the currency and time frame of your choice. This service is very affordable, and saves you a ton of time identifying the patterns on your own.
Check out Forex Trendy
Forex Trendy also has a trend scanner that alerts you when a certain currency pair is trending on a certain time frame. This is an excellent tool to limit your trading to only trending currencies and time frames. But for the Forex Breakout System, the Pattern Recognition scanner can be a tremendous help.
Check out my review of Forex Trendy here: Forex Trendy Review
Still don’t want to trade breakout systems yourself?
You can always use a signals service that uses a breakout strategy for the signals. Here is one called Butterfly FX. Trade signals are copied directly to your trading platform on the broker level.