Oh...I can understand how you do it. It's called technical analysis. How is that using technical analysis you ask? I'm king of getting tired of having to explain that to you. Please see my previous posts as a reference.
As your education progresses, you'll learn that drawing lines, using moving averages, "squigglies", clouds, fibs, etc. are all ways to determine support/resistance.
I don't use an RSI. However, by using a stochastics, people who know how to read that particular indicator on a more advanced level can predict support bounces, resistance breakouts, and reversals with some success.
As for the euro breaking out today...you mentioned that a week ago. You also had to spend a boatload of time (according to a previous post made by you) sorting through your fundamental data to make that amazing prediction.
As for me, I simply set a limit order on either side of the potential breakout which took about 30 seconds after determining support/resistance (another 30 seconds). I spend about 1 hour per day between stocks, options, and forex (about 15 minutes on forex). And I didn't have to sit around with my thumb in the air, and my money tied up for a week...waiting on your amazing breakout prediction to come true. I simply woke up this morning and I was IN.
