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.
| 21 - 25 June |
weekly
forecast 21 - 25
June #XAUUSD weekly Technical observation Last week the commodity on the weekly chart above declined with a big red candle and this bearish movement is a retracement to the supportive zone it established at 1698.84-1682.42. I expect a further rally to the lower side up to the zone I have mentioned a | ||
| 2021 | EURUSD | GBPUSD | USDJPY |
| 25 June | Technical observation This week I expected a momentum of price to the supportive zone 1.1605-1.1571, however, price rose with a big green candle and I expect this week’s candle to close bullish. Despite this upwards movement I still anticipate a retracement to the supportive zone I have men | Technical observation Since it bounced above the supportive zone 1.3661-1.3599, GBP has been trading with an increasing bullish bias and I expect this upwards movement to continue to the resistance level 1.4615 followed by either a clear penetration above it with a big green candle or a rejection | Technical observation For two consecutive weeks now USD went up and is still showing signs of rising to the resistance level 114.54. Right now price is trading between a supportive zone 104.74-104.22 and a resistance level 114.53 and as long as it is between the two levels remaining neutral is id |
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