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.
| 30 November - 04 December |
weekly
forecast 30 November - 04
December #ASX weekly Technical observation The commodity on the chart above is trading with an increasing bearish momentum above a supportive zone it established around 6148.7-6099.7. My expectation is a continuation of this downwards movement to the above-mentioned zone followed by a bounce within it f | ||
| 2020 | EURUSD | GBPUSD | USDJPY |
| 04 December | Technical observation EUR has been rising steadily since it penetrated above the key line 1.2009 with a big green candle. My expectation is a correction to the same line followed by a bounce at it for a possible surge to the upper side towards the resistance line 1.2252 then followed by either; a | Technical observation Yesterday GBP rose as i had anticipated and hit the take profit at 1.3486, however, it did not break above the line and instead bounced at it. Right now, I expect bearish movement of price towards the supportive zone marked at 1.3310-1.3298 followed by a bounce within it to | Technical observation The general trend for the pair on the chart above is downwards, price pulled back to a resistance zone it established around 103.97-103.95 but did not break above it, and instead, it bounced within the zone and is currently trading with an increasing bearish momentum towards |
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