This is primarily based on support and resistance lines. This strategy’s name originates from the nature of price action once an asset’s price breaks either a support or resistance line. After the price has passed through the support/resistance what follows is intense volatility and heavy volume to be traded. This strategy ultimately depends on the continuation of the trend for success, and is a frequently used approach by Forex signal providers, trying to give their service a significant edge.
Everyone wants to become a Forex millionaire but sadly only few can full fill their dream. But this statistical data has not stopped people from becoming a Forex trader. Every day the number of retail traders in the online trading industry is rising at an exponential rate. If you do some research you will be surprised to see the majority of the traders don’t have any precise skills about this market. They are always placing random trades without knowing the risk factors.