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.
| 2017 | EURUSD | GBPUSD | USDJPY |
| 03 November | Technical Observation: Yesterday, Eur traded with an increasing bearish bias and even broke out below the support line 1.1667 with a big red candle. This is bearish dominance indication, and unless the price gets back above 1.1667 with a big green candle, I expect further decline in price towards 1 | Technical Observation: Yesterday, the zone 1.3321-1.3295 was used as a key Resistance both on the daily and 4 hour charts. Following the rejection from this zone, the price dropped relentlessly to the lower side but is currently facing a key daily support zone 1.3040-1.3025. This is a key support z | Technical Observation: Between 30th Sept to 5th October, price used the line 113.13 as a key 4 hour resistance line, however, on 10th October, price broke out above this line with a big green candle. This was a bullish dominance signal, and unless the price gets below 113.13 with a big red candle, |
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