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.

2019	EURUSD	GBPUSD	USDJPY
11 January	Buy EUR with your take profit at 1.1840. Technical observation EUR corrected itself to the lower side but was contained within the zone 1.1509-1.1476, price is now rising and I expect bullish momentum towards 1.1840 and a possible breakout above it. You can buy this pair now around the zone with your take profit at 1.1840 and stop loss More	Remain long with your take profit at 1.2886. Technical observation GBP/USD is rising towards the resistance 1.2886, yesterday price pulled to the key supportive zone marked at 1.2716-1.2698, it was rejected and so could not penetrate below it. I expect bullish price rally towards 1.2886 followed by a breakout above it and a rise to 1.3072.I More	Remain short Technical observation USD rose towards the resistnace zone 108.90-108.72 but was rejcted around it, right now this pair is rallying on an increasing bearish momentum towards the supportive level marked at 106.58, my expectation is a decline to the support followed by a breakout below it for furth More
10 January	Remain neutral	Wait for a correction to 1.2716-1.2698 to re-buy GBP.	Remain short towards 106.58.
09 January	Remain short with your take profit still at 1.1214.	Remain short towards 1.2476.	Remain flat temporarily.
08 January	We're short towards 1.1216	Short GBP towards 1.2423	Remain neutral temporarily
07 January	Sell EUR within 1.1555-1.1474.	Remain flat	Remain flat

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Forex Technical Analysis: Trend potential

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