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.
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Austalian Index Review Technical Observation The Australian index continues to consolidate within the equilibrium zone 5820.1-5692.6 and is not showing any signs of breaking either above or below it. I'm still jittery about shorting this pair, however, if the price can decline belo
Technical Observation: For the past 4 days, Eur has rose almost 80 pips the price it opened, I expect further rise in price towards the daily resistance line 1.2558 and even breakout. On the weekly chart above, upward rally is highly anticipated but its wise to wait for a pullback to the lower side
Technical Observation Recently, a breakout was seen when Gbp went above the short term resistance line 1.3101. This was the confirmation I was waiting for according to yesterday's analysis, I expect an ascend towards the daily resistance line 1.3461. A breakout above this line will push the price f
Technical Observation: According to the Monday's forecasts, I expected a decline in price towards the lower trend line acting as the support to the converging wedge. However, the price rose upwards and has now gone below it's weekly opening price 111.11, this is a possible bearish pin bar formation
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