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 On the weekly chart above, Brent retraced to a resistance zone 80.61-78.85, it could not penetrate above it and was rejected. Currently it is rallying towards the support level 61.32.I expect another correction to the resistance zone followed by a rejecti
Technical observation In the recent times EUR/USD established a resistance zone 1.1742-1.1716 and is still below it.On Monday ,EUR pulled back significantly to the upper side but still below 1.1716.It could not breach above the zone hence a loss of the bullish momentum around the mentioned zone foll
Technical observation Yesterday GBP/USD went down as predicted towards the support 1.3050 and is still rallying towards it.I expect a breach below 1.13050 followed by a correction to it for possible bearish momentum towards 1.2775.If you went short yesterday within the resistance zone 1.3317-1.3276
Technical observation USD/JPY is still racing towards the resistance zone 114.12,I expect either a correction to the just broken zone 111.27-111.07 or a rally to 114.12 and a rejection from it for downwards movement of price. If price rises and gets rejected from 114.12,short term traders can short