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.
| 19 - 23 October |
weekly
forecast 19 - 23
October #ASX weekly Technical observation Last week, the value of the commodity on the weekly chart above penetrated above a zone 6148.7-6099.7 with a big green candle. This commodity is still trading with an increasing bullish bias however; I expect correction to the just broken zone and a rejection w | ||
| 2020 | EURUSD | GBPUSD | USDJPY |
| 23 October | Technical observation Yesterday EUR did not rally upwards as I had predicted, instead, it went down and is still showing signs of declining further. In case of a decline to the supportive zone 1.1744-1.1715 followed by a rejection within it, buy EUR within the zone with your take profit at the re | Technical observation Just like EUR, GBP went down yesterday and is still trading with an increasing bearish momentum. If you are currently flat with this pair, I would recommend you to remain so. I expect this bearish movement to continue to the supportive zone 1.2874-1.2830 followed by a clear b | Technical observation USD rose for some time and is still trading below the resistance zone 105.22-105.16. I expect price to rise to the above-mentioned zone followed by a rejection within it to pick short position. My advice, remain flat and wait for a correction to the zone 105.22-105.16 and a |
| 22 October | |||
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| 19 October | |||
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