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 |
| 25 Agustus | Technical Observation Eur is currently rallying within a converging wedge. I'm keenly waiting for a breakout below the wedge to pick a short position towards 1.1778. On the way down, a key support can seen around 1.1752, if this support is broken, then a rally towards 1.1715 is expected. On the h | Technical Observation After breaking below the support line 1.2848, Gbp retraced back to the same zone but go rejected, I'm waiting for a second pullback to this line to pick a short position towards 1.2765. As it is, Gbp is still bearish and could plummet further towards 1.26 or even lower. On the | Technical Observation On the daily chart above, Usd has just bounced off from a key daily support trend line. Unless this trend line is clearly breached to the lower side with a big green candle, I expect rally towards the upper resistance trend line. On the way upwards, key resistance lines can |
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