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.
| 2023 | EURUSD | GBPUSD | USDJPY |
| 27 Oktober | Technical observation On the weekly chart above, the price is trading with an increasing bearish bias between the supportive level 0.9541 and a resistance zone 1.1512-1.1453 for several weeks now, however this week the price opened bullish and I anticipate a further momentum to the upper side. My | Technical observation Just like EUR the value of GBP is trading with an increasing bullish bias between a supportive level 1.0877 and a resistance zone 1.4343-1.4254, next week I anticipate a further momentum to the zone indicated above followed by either a bounce within it or a clear break above i | Technical observation USD is trading with an increasing bullish bias slightly below the resistance level 151.87 and this week I expect it to close bullish. Next week I expect either a further momentum to the upper side or a rejection at this line followed by a correction to the zone 127.15-126.28; |
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