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A breakout requires momentum, but when a significant high or low is taken, it means a lot of traders are watching that level and are more likely to participate in the breakout, thus giving you a higher probability of success. Defining risk and a profit target then becomes a matter of mathematical probabilities, where you want to put your chances of winning more times than not at logical levels with a decent risk-reward ratio (RRR).
For more trading details, please check the hyperlinks with time stamp indicated from the video:
