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 has been declining steadily towards the key supportive zone 68.64-66.87 and I expect a rejection of it within the zone for possible bullish movements towards the resistance line 86.44 and a possible breakout above it for a further rise in price towards 1
Technical observation On the chart above EUR/USD is on an upward trend. After breaking above a resistance zone 1.1454-1.1376, price retraced steadily to the just broken zone and was rejected within it before moving up. Right now it is within the zone and I expect nothing but a bounce within it for p
Technical observation GBP/USD is rallying around a support 1.2829-1.2731 and I expect nothing but a rejection of it within the zone followed by a rise towards the upper resistance zone 1.4604-1.4506 and a possible breakout above it with a big green candle for a further rise in price towards the high
Technical observation The pair on the hourly chart above is on a downwards trend. After a clear breakout below the support 113.05 with a big red candle, price rallied below it towards the support 112.62 and is currently at it.I expect either a clear breakout below 112.62 with a big red candle follow