Breakout Trader
Breakout trader is a trader that uses technical analysis when looking for trading opportunities where asset price will experience a substantial movement. By looking for support and resistance levels, breakout traders will enter long positions when price breaks through resistance level. When price of an asset breaks below support level, breakout traders will take short positions.
Breakout traders usually use chart patterns such as head and shoulders, ascending and descending triangles or channels, when doing their analyses.
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