This is a trend following analysis using a breakout entry formation that generally has the greatest results. This analysis is good for 4H trading, but can also be used on almost all time frames and on all pairs. Basically, this analysis is based on breakout and certain forms of reversals. The analysis seeks to highlight potential breakout setups that can result in higher reward. To ensure consistent successful trades, the trader should exercise some degree of patience and wait for the perfect set up to execute trades. There’re are several types of breakouts, I only focus on two types of breakouts, trend line breakout and double top/triple top/ bottom breakout. Even with the two, I only trade double top/ triple bottom breakout most of the times and trend line breakout at some other times. Double top/Triple top/ bottom breakout is more dependable and reliable than the other. Note, trend line breakout includes also breaks that occur out of various shapes such as wedges, channels, triangles, and all the other shapes part from rectangles. Below are the simple sketches of some of the breakout setups I’ll be focusing on.
| 2023 | EURUSD | GBPUSD | USDJPY |
| 28 Juli | Technical observation EUR retraced to the resistance zone but did not break above it, instead it bounced within it and since then it has been trading with an increasing bearish bias, today I expect a further surge to the lower side and in case you are already holding a short positions with this pa | Technical observation GBP is pulling back to the supportive zone 1.2669-1.2609 for a second time and I expect a rejection within it followed by a surge to the upper side. My advice, remain neutral and wait for a correction to the zone indicated above then buy a bounce within it with your take profi | Technical observation On the chart above, USD is trading within the supportive zone 138.75-138.22 with an increasing bearish bias, this is a third retracement to this zone and I anticipate a bounce within it followed by a rally to the upper side. My advice pick bullish positions now within the zone |
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