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.

04 - 08 May	weekly forecast 04 - 08 May Wait for a correction to sell #Brent #Brent weekly Technical observation On the weekly chart above, Brent declined to the supportive level 24.97 but could not penetrate below it. Currently this pair is trading with an increasing bullish momentum above the level and I expect this upwards rally to continue to th More
2020	EURUSD	GBPUSD	USDJPY
08 May	remain flat Technical observation Yesterday, EUR rose with a big green candle and is still showing signs of rising even further. However, I expect a loss of this upwards movement within the resistance line 1.0985 for possible bearish price movements. My advice, remain neutral and wait for a retracement to the More	looking to sell within 1.2400-1.2392 Technical observation On the hourly chart above, price retraced to the resistance zone it established around 1.2400-1.2392 and did not break above it. The bounce within the zone confirms that price is still within the seller range and I expect possible bearish momentum towards the supportive level More	Wait Technical observation The pair on the chart above corrected to the resistance zone 106.39-106.36 and slightly broke above it. Price is currently trading above the just broken zone with an increasing bearish momentum and in case the break above 106.39-106.36 was false, I expect another break below More
07 May	We're flat	We are flat temporarily	Wait
06 May	bearish towards 1.0754	Place a buy order within 1.2400-1.2393	still short towards 104.96
05 May	bearish towards 1.0776	We're flat	Short towards 104.96
04 May	We're short towards 1.0776	We're flat	still short

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Forex Technical Analysis: Trend potential

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