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.
2019 | EURUSD | GBPUSD | USDJPY |
29 November | Technical Observation Nothing significant happened on this pair. The pair is still below the 76.4 percent fib level. As I mentioned during the previous day's forecast. I expect a possible break below the level 1.09889 to pick a long term sell order with an ideal take profit at 1.09850. If this lev | Technical Observation Following the break above 38.2% fib level, GBPUSD rallied to the upperside but could not breakout above the level 23.6% fib level. In case the price breaks and closes above the 23.6% fib level, then this will be an ideal place to look for a long term buy order with an ultimat | Technical Observation USDJPY is in an active up trend. The pair rallied massively to the upperside and even hit the 127.2% fib level but could not break above it. According to the MACD indicator attached, we're likely to a possible retracmement towards the lowerside but should not go beyond 109.28 |
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25 November |