How to Catch Breakout Vibes

What's the tea on breakouts and how do I finesse them? 🤔💸

Unlike the breakouts that haunted us during our awkward teen years, a breakout in the trading world hits a bit different! 🧖‍♂️

A breakout happens when the price “busts out” (ya feel me?) from some sort of chill zone or trading range.

A breakout can also go down when a specific price level is cracked like support and resistance levels, pivot points, Fibonacci levels, etc.

With breakout trades, the game plan is to dive into the market just when the price levels up and then hang tight until volatility chills out. 🚀

Volatility, Not Volume 🎢

You'll peep that, unlike flexing with stocks or futures, you can’t even scope out the volume of trades in the forex world.

With stocks or futures, volume is clutch for plugging good breakout trades so not having this intel in forex kinda leaves us in the dark. 🕶️

Due to this curveball, we gotta lean on smart risk vibes and check off some criteria to lock down potential breakout gold. 🌟

If there’s a major price vibe change in a hot minute, then volatility is on a wild ride. 🎢

On the flip side, if price wiggles are low key in a short stretch, then volatility's just nappin'. 😴

Even tho it's hella tempting to swoop into the market when it's breakneck like the Flash, you'll often catch yourself sweating and stressed, making choices while your money does the cha-cha in and out. 😩💸

This spicy volatility is what reels in a squad of forex traders, but it’s that same spice that takes 'em down. 🚨

The squad goal here? To use that volatil-TEA to your advantage. 🍵

Instead of mobbing with the crowd and making your move when the market's super hype, better to scout out currency pairs in chill mode with low volatility.

This way, you're prepped and ready AF for when a breakout hits and volatility shoots through the roof! 🚀💥