If you don’t have hours to spend in front of the computer screen, playing a breakout on the strongest VS weakest currencies is the way to go.
Today at the London open, the AUD (orange line) is the strongest currency up top but trading flat at the moment (no momentum). The EUR (pink line) is the weakest with a bit of current momentum to the downside.
You would place a pending order on this pair 10 pips away from the market price.
EUR/AUD SELL
In this case, your order would have been triggered at the yellow line we’ve drawn on the charts (10 pips below the open price). From there, the pair moves down 25 pips so you would have nailed your 20 pip profit on this breakout trade.
Watch the entire video analysis below:
