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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#Brent weekly Technical observation #Brent continues to rise steadily towards the resistance zone 43.00-42.05. I expect a loss of this bullish momentum within the zone for a possible decline in the value of this commodity towards the support 24.97. My advice, remain flat and wait for a retracem
Technical observation Yesterday EUR went up with a big green candle but bounced at the resistance zone 1.0987-1.0974 and is currently trading with an increasing bearish momentum. I expect this bearish rally to continue to the supportive level 1.0754 followed by a clear penetration below it for fur
Technical observation On the 4-hour chart above, price penetrated below a supportive zone 1.2183-1.2161 but was not contained below it. Price then retraced to the zone and bounced within it. GBP is currently trading with an increasing bullish momentum and I expect this movement to rally to the key
Technical observation USD went down yesterday and is still rallying with an increasing bearish momentum. I expect this movement to continue to the supportive line 104.96 followed by a clear breach below it for further bearish rally towards the lower supportive level 102.28. If you sold this pair w