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.

27 - 31 January	weekly forecast 27 - 31 January Remain neutral with #WTI #Brent weekly Technical observation Last week Brent went down with a big red candle and is currently trading above the supportive level 57.80. I still expect more bearish movements to the level 57.80 followed by a possible breakout below it for a further decline in value of this commodity. Howe More
2020	EURUSD	GBPUSD	USDJPY
31 January	Remain neutral Technical observation On the daily chart above, price is rallying above a supportive level 1.0992. Yesterday, EUR rose but did not reach the resistance zone 1.1197-1.1175, my expectation is either a clear penetration below the line 1.0992 with a big red candle or a correction to the zone 1.1197-1. More	Remain long Technical observation GBP corrected itself to the supportive zone it established around 1.2984-1.2948 and was rejected as I had predicted, price went up yesterday and I still expect more bullish movements towards the key line 1.3516 followed by a possible penetration above it. If you bought this p More	Wait Technical observation USD is trading below a resistance zone 109.75-109.62 on an increasing bullish bias. I expect a loss of this movement within the zone for bearish price rally towards the level 106.77. My advice, wait for a correction to the above-mentioned zone and a rejection within it to sel More
30 January	Wait	Wait for a bounce to buy GBP.	Remain short
29 January	We're flat	sell within 1.3036-1.1.3032	Wait for a correction
28 January	Remain neutral	Wait for a correction to sell GBP	Wait
27 January	Wait for a correction to sell.	We're flat	Wait for a retracement to sell.

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Forex Technical Analysis: Trend potential

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