Forex Technical Analysis: Trend potential

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.

12 - 16 October	weekly forecast 12 - 16 October Wait for a pullback to 2.925-2.873 to buy #Gas. #Gas weekly Technical observation The commodity on the chart above penetrated a zone 2.925-2.873 with a big green candle, it then rose and gapped to the upper side, this an indication of a possible bullish dominance and therefore you can anticipate upwards movement of the value of this commodi More
2020	EURUSD	GBPUSD	USDJPY
16 October	Wait Technical observation On the previous review, we anticipated either a correction to the resistance zone 1.1779-1.1775 or a decline to the supportive line 1.1726. This pair did not retrace to the above-mentioned zone but instead declined and broke below the same supportive level then retraced to i More	looking to sell within 1.2942-1.2937 Technical observation GBP went broke down below the supportive zone 1.3012-1.3007; price pulled back to the broken zone and was contained below it before surging to the lower side towards the supportive zone 1.2942-1.2937. GBP then penetrated below the same zone with a big red candle and currently More	Wait for a retracement to buy USD. Technical observation On the chart above, I had anticipated a rejection of price within the zone 105.28-105.26; however, price did not bounce within it but instead broke above the zone with a big green candle before rallying upwards. Currently price is trading with an increasing bearish momentum More
15 October	Remain neutral	Wait for a breakout below 1.3012-1.3007	We're short within 105.28-105.26
14 October	We're flat	Wait	We're flat
13 October	Buy EUR within 1.1812-1.1774	We're long towards 1.4244	We're long within 105.22-105.16
12 October	still bullish towards 1.2009.	Wait for a correction	Buy a bounce within 105.22-105.16

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Forex Technical Analysis: Trend potential

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