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 |
| 22 September | Technical Observation: According to yesterday's analysis, Eur got rejected from the support zone 1.1876-1.1847 and failed to penetrate below this zone. I went long after this rejection and is still holding onto this position, my expectation is that the price should rise even further towards 1.2058, | Technical Observation: According to the other day's analysis, Gbp failed to penetrate below the support line 1.3475, rather there was a rejection from this line that gave me a chance to pick a long position towards 1.3500. Unless there's a clear breakout above the 4 hour resistance line 1.3500 with | Technical Observation: Instead of just a slight retracement to the lower side, Usd retraced much lower than expected and even took out my stop loss that was set below 112.10. Usd could plummet even further towards 111.35 to give a buy trade. As it is, Usd is still bullish and only buy positions can |
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