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.
| 09 - 13 November |
weekly
forecast 09 - 13
November Technical observation The commodity on the chart above has been trading above a supportive zone it established around 5811.2-5763.0. This commodity retraced to the zone mentioned above but could not break below it, it bounced within the same zone and last week, it rallied upwards. I expect a furt | ||
| 2020 | EURUSD | GBPUSD | USDJPY |
| 13 November | Technical observation EUR did not penetrate below the zone 1.1744-1.1715 instead, yesterday’s candle closed bullish and I still expect a further rise in the value of this pair today. If you bought EUR within the above mentioned zone after a bounce and is currently long, remain in the trade with yo | Technical observation GBP is still trading with an increasing bearish momentum below a resistance line 1.3279 it had bounced at. I expect this bearish movement to continue to the supportive zone this pair established at 1.2874-1.2830 followed by a rejection within it for a surge to the upper side. | Technical observation On the hour chart above, price is approaching the supportive level 104.91-104.96 and I expect a loss of this bearish movement within the same zone for a rise in price. My advice, remain flat temporarily and wait for a correction and a bounce within the zone 104.91-104.96 to |
| 12 November | |||
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| 09 November | |||
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