Inside technicals and chart patterns by 
I like breakout trading, it allows me to take advantage of a move as price breaks congestion or consolidation.
These set ups must first and foremost, set up in a sideways market, which for me means a sideways, three o’clock Wave angle.
Now consider a few scenarios. Since the forex is a 24 hour market, there are times that we can miss trades. Maybe you’ve taken the trade and have either run out of lots to scale out of or been trailing stopped out.
There could be any number of reasons that we are now looking for another way into the USD/CAD.
Here’s the USD/CAD as it is today.
The trend is now up. I have also drawn in the Autochartist pattern alert so you can see the market cycle as it was at the time - which set up the momentum entry long.
Now I am transitioning to swing (trend following) trading.
The play now is buying into the dip back into the top line of the Wave.
You can use the Lazy Days Lines to help with trade management…
- Raghee