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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 and commodities. The analysis seeks to highlight potential breakout setups that can result in higher reward.

Forex Technical Analysis: Trend potential

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.

03 - 07
August
weekly
forecast
03 - 07
August

 #WTI weekly Technical observation The commodity on the weekly chart above bounced within a resistance zone 39.50-40.71 and last week it traded with an increasing bearish momentum. I expect further bearish movements this week towards the supportive level 18.21 followed by a clear breakout below

2020 EURUSD GBPUSD USDJPY
07
August

Technical observation EUR is still trading with an increasing bullish momentum above a supportive zone 1.1459-1.1513 on the weekly chart above. I expect this week’s candle to close bullish, however, I anticipate bearish momentum next week towards the supportive zone mentioned above followed by a

Technical observation Since it broke above the zone 1.2690-1.2613, GBP has been rising steadily towards the resistance zone 1.3481-1.3411 and I expect this week candle to close bullish. My expectation is correction to the zone 1.2690-1.2613 followed by a rejection within it for upwards movements

Technical observation On the weekly chart above price is trading with an increasing bearish momentum above a supportive zone 105.02-104.41. I expect a clear breakout below the zone with a big red candle for bearish movements of price. My advice, remain flat and wait for a clear breakout below the

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August
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