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.

20 - 24 January	weekly forecast 20 - 24 January Remain Short with Brent towards 57.80 #Brent weekly Technical observation Two weeks ago, the commodity on the weekly chart above bounced at a key resistance level 64.00 before moving on an increasing bearish momentum, currently the commodity is contained between the level and a supportive zone 52.94-51.91, I expect the bearish move More
16 - 20 January	weekly forecast 16 - 20 January Remain Short with Brent #Brent weekly Technical observation On the weekly chart above price closed while on an increasing bearish momentum below a key resistance zone 72.91-71.66, I still expect more of this downwards movement towards the supportive level 57.60 followed by possible penetration below it. If you sold th More
2020	EURUSD	GBPUSD	USDJPY
24 January	Wait Technical observation Yesterday price penetrated below the trend line indicated on the daily chart above with a big red candle and is currently rallying below it. I expect a retracement to the just broken line followed by a rejection at it for possible bearish movements of EUR towards the supportiv More	Wait for a correction Technical observation Yesterday GBP went down instead of rising and is still showing signs of moving further downwards towards the supportive level 1.2984-1.2948. My expectation is a rejection of this downwards movement within the zone mentioned above for bullish price rally towards 1.3516. Wait fo More	Wait for a retracement to sell USD. Technical observation USD broke below a supportive zone 109.75-109.62 yesterday with a big red candle and is currently trading below it on an increasing bullish bias. I expect a loss of this movement within the zone for possible bearish price rally towards the level 106.77. My advice, wait for a c More
23 January	Remain flat	Still long	We're flat
22 January	Wait for a correction	Remain long	Remain long towards 111.76
21 January	Short towards 1.0992	Long towards 1.3516	still long towards 111.76
20 January	Remain short towards 1.0992.	Wait	Buy USD within 109.75-109.62

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Forex Technical Analysis: Trend potential

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