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.
2018 | EURUSD | GBPUSD | USDJPY |
30 Maret | Technical observation The pair on the daily chart above has been trading above a key zone (1.2243-1.2201) for the past days with four retracements to it.Currently price is rallying above it and I expect a correction to it for bullish movement of price towards 1.2555,yesterday’s candle could not r | Technical observation On the 4H chart above, GBPUSD broke above a resistance zone (1.4095-1.4079) with a big green candle on 21st of March this year. Price then retraced to the zone twice as a support, recently price was corrected to the zone as a resistance then rallied down towards a key line 1 | Technical observation Yesterday, SD was rejected from the key line 106.82 and is currently showing signs of declining towards the key line 102.77, i expect bearish movements towards the line and a breakout below it for further decline in price. If you had not sold USD yet you can sell it now with y |
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