Break & Re-Test Patterns - Infinite Prosperity | Infinite Prosperity

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May 26, 2017| 5 Minute Read

Day Trading

Break & Re-Test Patterns

break-image

Recent market volatility on the daily charts has paved the way for textbook price action on the lower timeframes.

Here we have the 1H chart of GBPUSD.

Identifying the basic BREAK and RE-TEST pattern is one of the many many layers of confluence we can apply over our setups to provide a profitable edge in the market.

Here’s how you can get started with identifying break and re-test patterns:

1. Identify an existing trend, or the start of a trend.
2. Identify either key support/resistance levels (horizontal lines) AND/OR recent swing high/swing low levels.
3. Wait for a break.
4. Wait for a re-test.

This simple technical analysis has POWERFUL results and it requires no fancy indicators or formulas. Pull up charts, and practice, practice, practice. You’ll see the results for yourself.

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Risk warning: We don't believe in “get rich quick” systems. Speculative trading (in particular) has large potential rewards, but also large potential risks. Leverage is a double-edged sword, and high degree’s of leverage can work against you as well as for you. Before deciding to trade, you should carefully consider your objectives, financial situation, needs and level of experience. You should be aware of all the risks associated with trading on margin. Infinite Prosperity provides general advice that does not take into account your personal and individual objectives, financial situation or needs. The content of this website must not be construed as personal advice. The possibility exists that you could sustain a loss in excess of your initial investment, and therefore, you should not trade with capital that you cannot afford to lose. If you have any doubts or concerns, Infinite Prosperity recommends you seek advice from an independent financial advisor. Please do not trade with borrowed money or money you cannot afford to lose, and keep in mind that past performance is no indication of future results.