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 |
| 28 Juli | Technical Observation: Recently, Eur pulled back lower and is still showing signs that it could plunge even further lower. This downward rally is a retracement phase of the previous rise in price towards 1.1454 where I've placed a pending buy limit order. Unless 1.1454 is clearly breached to the l | Technical Observation: Despite the previous forecast that Gbp could rise towards the next resistance line 1.3479, Gbp pullback lower than expected but is still slightly above the short term support line 1.3039. Unless this short term support is clearly breached to the lower side with a big red c | Technical Observation: Usd is currently trading slightly below it's daily pivot line 111.3. For the past several weeks, Usd entered into a possible converging wedge and is currently showing signs of reversing from the lower trend line acting as the support to this wedge. I'm waiting for a clear |
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