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.

03 - 07 February	weekly forecast 03 - 07 February Remain short with #HSI #Brent weekly Technical observation Last week the value of the commodity on the weekly chart above declined and penetrated below a supportive level 57.80 with a big red candle. Currently, it is trading below the just broken line with an increasing bullish bias and I expect a loss of this upward More
2020	EURUSD	GBPUSD	USDJPY
07 February	Wait for a correction Technical observation Yesterday EUR penetrated below a support level 1.0992 with a big red candle and is now trading below it. I expect a correction to the just broken line followed by a bounce at it for bearish price rally towards the level 1.0874 and a possible breakout below it. Wait for a corr More	Wait Technical observation After trading above a supportive zone 1.2984-1.2948 for several days, yesterday GBP penetrated below the zone with a big red candle and is currently rallying below it. A correction to the just broken zone followed by a rejection within it can be expected for a possible downwa More	Buy USD within 109.75-109.62 Technical observation A breakout was seen when price went above a resistance zone 109.75-109.62 with a big green candle and rallied upwards the following day, right now price is rallying on an increasing bearish momentum and I expect a loss of this downward momentum within the just broken zone for More
06 February	Wait	We're flat	Wait for a retracement to buy.
05 February	We're short	Still long	Remain short
04 February	We're flat	We're flat	Remain flat
03 February	Wait for a correction to sell EUR.	Remain long	We're flat

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Forex Technical Analysis: Trend potential

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