E-Book Review: Consolidation Breakout Signals on the Forex Market by Duane Shepherd

Duane Shepherd is a currency analyst and trader who is running a website www.drfxtrading.blogspot.com. He specializes in swing trading, and his main method of entry into the market appears to be consolidation breakouts. He has written several e-books based on his trading method, and he generously shared one of them with my blog’s readers.
is an introductory piece into the technique described as a consolidation breakout by the author. Consolidation breakouts are a more general term for the chart pattern breakouts such as the ones often used by me (e.g. ascending triangles, rectangles, flags, etc.)
One good thing about this e-book is that it really gives some basic ideas for building your own trading strategy. The problem is that it does not explain many of the terms it uses. It also fails to justify the proposed system by using some backtest results or something similar. Another problem would be a proper exit from the positions generated by such exit signals. The e-book does not detail on stop-loss or take-profit levels.
Overall, if you are interested in trading breakouts and still do not have your own trading system, this e-book may help you to build one.

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