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.

15 - 19 July	weekly forecast 15 - 19 July We're flat temporarily with #Tesla #IBM weekly Technical observation Last week #IBM continued to rise above a resistance zone it established around 140.20-137.91 and is currently trading above it. My expectation is a correction to the just broken zone followed by a rejection within it for possible bullish momentum towards the ke More
2019	EURUSD	GBPUSD	USDJPY
19 July	Remain flat Technical observation On the weekly chart above, price did not rally downwards as I had predicted but instead it went up and I expect it to close bullish. Next week I expect a continuation of this upwards movement to the zone 1.1465-1.1401 followed by a bounce within it for bearish rally towards t More	We're short towards 1.1533. Technical observation This week price went down after it was rejected at a key level 1.2578, I still expect GBP to surge downwards towards the support 1.1533 followed by a clear penetration below it. If you sold this pair at 1.2578 after a rejection, hold on to that position with your take profit More	Remain short with your take profit at 106.47. Technical observation On the daily chart above price is trading towards a supportive level 106.47 on an increasing bearish bias. USD was rejected within a resistance zone 108.86-108.67 and I still expect more of this downwards movement towards the line 106.47 followed by a clear penetration below i More
18 July	Flat	We're flat	Wait for a retracement to sell USD.
17 July	Remain short with your take profit at 1.0830	We're short towards 1.1533	Remain flat temporarily.
16 July	We're neutral	Remain flat	Wait for a penetration below 107.78 to sell USD.
15 July	Wait for a correction to sell EUR.	Sell GBP now with your take profit at 1.1533	Wait for a retracement to sell USD.

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Forex Technical Analysis: Trend potential

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