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.

11 - 15 May	weekly forecast 11 - 15 May We're flat with #NIKKEI #Brent weekly Technical observation Brent is retracing to a resistance zone it established around 43.00-42.05, I expect a bounce within the zone for possible bearish movements. My advice, remain flat and wait for a correction to the above mentioned zone and a bounce within it to sell Brent with More
2020	EURUSD	GBPUSD	USDJPY
15 May	still short towards 1.0796. Technical observation Following a rejection within the resistance zone 1.1478-1.1415, EUR declined steadily up to the supportive level 1.0796 but was rejected at it before it corrected itself to the above mentioned resistance zone. Price bounced around the same zone before rallying downwards and i More	Wait for a bounce to buy GBP. Technical observation On the daily chart above, price is trading within a supportive zone 1.2209-1.2173 with an increasing bearish momentum. This bearish movement is a retracement and i expect a rejection of it within the zone for possible bullish price rally, however, GBP could still penetrate be More	Remain short Technical observation Recently USD retraced to the resistance zone 107.99-107.79 but bounced within it before rallying downwards. USD is still showing signs of rallying further downwards and i expect this bearish rally to continue to the supportive line 104.96. If you sold USD within the zone 107. More
14 May	We're flat temporarily	We're flat	Short towards 106.39
13 May	We're flat	We are bullish towards 1.2746	bearish towards 104.96
12 May	We're flat	Wait for a correction	We're bullish towards 108.03
11 May	Wait	Long towards 1.2521	We're short towards 106.39

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Forex Technical Analysis: Trend potential

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