Pound Breakouts using Sentiment and Momentum

Having a mechanical breakout strategy is a great idea. You could generally set and forget a system with a great risk to reward ratio and decent money management. However, the number of false breakouts is numerous and this frustrates traders causing them to get involved in practices that lead to larger losses. What I propose is finding a strategy that is simple enough to deploy based on technical analysis, so you can clearly define your stop, entry and take profit. But to then adapt your entries based on what is happening in the broader market. Are you going against or with the majority of traders, is there currently relative strength or outflows in the major currency pairs?

For more trading details, please check the hyperlinks with time stamp indicated from the video:

1:57 GBP/USD

3:55 GBP/JPY

4:36 GBP/CAD

5:07 GBP/NZD