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How to Trade Breakouts | Platinum Trading Institute

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Title: How to Trade Breakouts | Platinum Trading Institute


1
FOREX TRADING
  • How to Trade Breakouts

2
Fundamental Point of View on Aussie
  • In its last statement, after leaving the cash
    rate unchanged, the RBA wrote
  • Conditions in the global economy are continuing
    to improve. Labour markets have tightened further
    and above-trend growth is expected in a number of
    advanced economies, although uncertainties
    remain.
  • Growth in the Chinese economy is being supported
    by increased spending on infrastructure and
    property construction, with the high level of
    debt continuing to present a medium-term risk.
  • Commodity prices have risen recently, although
    Australias terms of trade are still expected to
    decline over coming years.

3
  • The recent data have been consistent with the
    Banks expectation that growth in the Australian
    economy will gradually pick up over the coming
    year.
  • The decline in mining investment will soon run
    its course.
  • The outlook for non-mining investment has
    improved recently and reported business
    conditions are at a high level.
  • Residential construction activity remains at a
    high level, but little further growth is
    expected.
  • Retail sales have picked up recently, although
    slow growth in real wages and high levels of
    household debt are likely to constrain future
    growth in spending.
  • In the battle to keep its currency down, the RBA
    chose not to join other Central Banks in the
    recent trend of increasing overnight rates.
    Though we have had recent commentaries from
    Philip Lowe, RBAs Governor that it would be
    prudent to assume that the next rate move will
    be up rather than down.

4
Technical Point of View
  • Lets take advantage of the trends forming in
    the Forex Breakout Strategy and flow with the
    markets to make money.
  • How to trade the AUD/USD
  • Long the AUD/USD _at_ 0.7725 or the nearest zone
    with 40 pips stop loss and a target of 0.8050
  • Long the AUD/USD _at_ 0.7635 or the nearest zone
    with 40 pips stop loss and a target of 0.8050
  • Place alerts on the major and minor support areas
    and match them with the zones and go for 20/20
    trades

5
THANK YOU.
  • If you are a new trader and would like to learn
    how to trade, then sign up today to our 2-day
    free Foundation to Forex Trading Course.
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