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.
| 04 - 08 January |
weekly
forecast 04 - 08
January #WTI weekly Technical observation The value of the commodity on the chart above rose and broke above a zone 44.66-43.25 with a big green candle; it then retraced to it but was contained above it and is currently trading with an increasing bullish momentum above the same zone price. I expect thi | ||
| 2021 | EURUSD | GBPUSD | USDJPY |
| 08 January | Technical observation On the weekly chart above, price is trading with an increasing bullish momentum below a resistance line 1.2286, my expectation is either a clear breakout above the lien with a big green candle, or a bounce at it followed by a correction to the supportive zone 1.1830-1.1778. | Technical observation The pair on the weekly chart above has been trading with an increasing bullish bias since it penetrated above a zone 1.3461-1.3409, this week however, GBP has been rallying downwards. This bearish movement is a retracement to the zone mentioned above and I expect a loss of it | Technical observation USD did not rally downwards as I had anticipated, instead, it rose and broke above a resistance line 103.35 with a big green candle, if this pair continues to rise and break above the trend line indicated on the chart above, you can expect a momentum to the upper side towards |
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