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 |
01 September | Technical Observations Recently, Eur went up to the lows of 1.1820 but ended up closing above a short term resistance line 1.1876, this is a bullish sign, and unless the price gets back below 1.1876 with a big red candle, I expect a rise towards 1.22. From a wider point of view, Eur could plummet t | Technical Observations Recently, after a rejection from 1.2775, Gbp is currently showing signs it could rise towards 1.3479 in the next couple of weeks. On its way upwards, key lines that could challenge the anticipated upward rally is seen around 1.2967, 1.3103, and 1.3254. If these three lines ar | Technical Observation Recently, after reaching slightly below 108.40, Usd rose tremendously to the upper side but failed to reach my resistance line set at 110.92. Today, instead of going short on the previous drop in price, I choose to remain flat, my expectations is that price should rise upwards |
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