{"id":20235,"date":"2022-10-21T07:30:30","date_gmt":"2022-10-21T11:30:30","guid":{"rendered":"https:\/\/www.jeffclarktrader.com\/?p=20235"},"modified":"2022-10-21T07:30:30","modified_gmt":"2022-10-21T11:30:30","slug":"the-steamy-setup-i-used-to-catch-a-volatile-trade","status":"publish","type":"post","link":"https:\/\/jeffclarktrader.com\/market-minute\/the-steamy-setup-i-used-to-catch-a-volatile-trade\/","title":{"rendered":"The Steamy Setup I Used to Catch a Volatile Trade"},"content":{"rendered":"

To close out my weeklong takeover of Market Minute<\/em>, I want to show you my bread-and-butter trade setup.<\/p>\n

This setup is responsible for many of the biggest forex trades in my career.<\/p>\n

The best part is that it’s so simple and easy to spot on a price chart – you should be able to go ahead and find this setup on your own…<\/p>\n

The trade was taken on the U.S. dollar and Russian ruble currency pair (USD\/RUB).<\/p>\n

I bought the currency pair, which meant I was expecting the dollar to go up in value against the ruble.<\/p>\n

Let’s look at the USD\/RUB price chart on the day I entered the trade, so I can walk you through what happened…<\/p>\n

\"Chart\"<\/div>\n

On February 21, I bought the currency pair. This was three days before Russia ignited the current geopolitical conflict in Ukraine.<\/p>\n

I had been tracking this developing pattern in USD\/RUB over the last several months and was expecting it to break out in early 2022.<\/p>\n

The chart pattern above is known as a “triangle” and it consists of two trendlines (blue lines) containing sideways price action.<\/p>\n

There are many variations of triangles such as ascending, descending, and symmetrical. But what all triangles have in common is a general sideways look to the price action contained by the two trendlines.<\/p>\n

Triangles are my favorite setups to trade because they almost always lead to exciting breakouts.<\/p>\n

All that sideways action is like steam building up inside a kettle. Once the kettle brings the water inside to a boil, all that built-up steam must escape somewhere.<\/p>\n

Once a triangle breaks out, I know there will likely be a great trade to take.<\/p>\n

Just look at what happened after the USD\/RUB triangle broke out…<\/p>\n

\"Chart\"<\/div>\n

Now, I wish I could tell you that I rode this trade to the very top and got out for an enormous profit.<\/p>\n

But the truth is that I exited the trade after just two days – and I was lucky to do so.<\/p>\n

The chart warned me of a higher burst of volatility in USD\/RUB, but I wasn’t sure what the catalyst for such a move would be.<\/p>\n

With everything in the news pointing toward a potential invasion, I knew it was prudent to take a modest win and get out.<\/p>\n

My instinct told me brokers might halt trading on the currency pair, and I didn’t want my trade to freeze where I couldn’t sell my position… I was fortunate I exited the trade when I did.<\/p>\n\n\n\n
\n

Free Trading Resources<\/strong><\/p>\n

Have you checked out Jeff’s free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career \u2013 at zero cost to you. Just click here<\/a> to check it out.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The very next day, Russia invaded Ukraine. And not long after, my broker did indeed halt trading on the ruble.<\/p>\n

You can check out my order ticket for the USD\/RUB trade below…<\/p>\n

\"Chart\"<\/div>\n

The moral of the story is that usually a chart will tell you in advance – sometimes days, weeks, or even months – what a market is going to do before you see the headlines in the news.<\/p>\n

That’s why technical analysis is the best tool for traders.<\/p>\n

All you need is a small handful of reliable patterns that lead to predictable outcomes.<\/p>\n

Happy trading,<\/p>\n

Imre Gams
Analyst, Market Minute<\/em><\/p>\n

P.S.<\/strong> Technical analysis has been the key to scoring my biggest forex gains. In fact, lately I’ve been beta testing for my new forex service… and the result is a perfect 13 winners out of 13 trades.<\/p>\n

You can see the results for yourself during Jeff Clark’s confidential update on Saturday at 8 a.m. ET. Just click here to sign up<\/a>.<\/p>\n

<\/p>\n

Reader Mailbag<\/strong><\/h2>\n

How has technical analysis helped you secure gains in this volatile market?<\/p>\n

Let us know your thoughts – and any questions you have – at feedback@jeffclarktrader.com<\/a>.<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

All that sideways action is like steam building up inside a kettle…<\/p>\n","protected":false},"author":49,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"ep_exclude_from_search":false,"service":"","footnotes":""},"categories":[1],"tags":[],"publication":[10],"person":[76],"newsletter-type":[],"ticker":[],"class_list":["post-20235","post","type-post","status-publish","format-standard","hentry","category-market-minute","publication-market-minute","person-imre-gams"],"acf":[],"_links":{"self":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/20235","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/users\/49"}],"replies":[{"embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/comments?post=20235"}],"version-history":[{"count":0,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/posts\/20235\/revisions"}],"wp:attachment":[{"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/media?parent=20235"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/categories?post=20235"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/tags?post=20235"},{"taxonomy":"publication","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/publication?post=20235"},{"taxonomy":"person","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/person?post=20235"},{"taxonomy":"newsletter-type","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/newsletter-type?post=20235"},{"taxonomy":"ticker","embeddable":true,"href":"https:\/\/jeffclarktrader.com\/market-minute\/wp-json\/wp\/v2\/ticker?post=20235"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}