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 |
| 02 Juni | Technical observation EUR is pulling back to a resistance zone it established at 1.0836-1.0823 and I expect a rise to the same zone followed by a possible rejection of price within it. My advice, remain neutral and wait for a correction to the zone I have mentioned above then sell a bounce within | Technical observation GBP pulled back to the resistance level 1.2536 but did not break above it, instead it bounced at the same line and it is currently trading with an increasing bearish bias. As long as the price is contained below the level indicated above, I anticipate a further momentum to th | Technical observation USD pulled back to the zone it established at 139.11-139.00 then bounced within it and it is currently trading with an increasing bearish bias. As long as the value of this pair is sustained below the same zone, I expect a further momentum to the lower side and in case you al |
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