Hey, Traders, it's Marina, the trader chick, and today we are going to work on the breakout trade.
What is breakout strategy?
We have to get the concept. So the sideways trend, whatever you want to call it, indecision, the exhaustion, pattern of transition area, consolidation area, the channel market. However, if we do not have it is designated, that is a flat area or really understand where that area is, we will be missing one hundred percent of the best trade setups.
So let's make sure we don't do that, and let's learn how to spot those trades. Consolidation areas, transition areas, again, whatever you want to call it. The market is going to do what the market is gonna do. And it's telling you, hey, it ain't going anywhere right now.
OK, so what are those areas?
They are support and resistance areas, resistance areas and are as important as for a Formula One driver putting on their seatbelts and their helmets. If you do not have them marked off, how are you ever going to be able to respect them the way the market respects them?
All right, so support and resistance areas, we have to mark them. It could revisit those areas, but we have them marked off, so we know where those areas are.
This is my absolute favorite, favorite way to spot these areas and to know when they are starting. What happens during this area, during the consolidation area of the channel, the indecision area?
This is what happen next. The breakout trade, guys, that is it, all right, you're back in the confidence you've back and renewed.