Support/Resistance Breakout setup Sunday/Monday

This is another way to trade breakouts.  Wait for the breakout to retrace to previous support then enter the trade.

This perfect support resistance setup (after breakout) showed itself ready to short at 8 PM last night.  I set this one and forgot,  and woke up with a piece of the move.  If you stayed up to move your stops then this trade moved over 200 pips for you. ps the dotted blue line is the strong resistance,trading short at the 8PM arrow.

Now 12 hours later at 8AM I am trading this pair in the opposite direction as it bounces off of  1.4500.  I am currently locked in to break even if the trade does not retest its low and take me out.    Update…. 2:17PM closed long trade as the consolidation shows weaknes.  Only another 12 pips out of that.

I am looking to short this pair again on breakout because of the weakness of its retracement and the fact that the Asian markets did not go down with the World markets on monday.