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.

2018	EURUSD	GBPUSD	USDJPY
07 December	We're flat temporarily Technical observation Yesterday EUR did not break below the supportive level 1.1277 instead it was rejected around it and is currently rising towards the key resistance zone 1.1477-1.1432 and my expectation is a bounce within it to re-sell this pair with my take profit still at 1.1277 and stop loss More	Remain short Technical observation GBP/USD did not reach the lower trend line which is the acting support instead price was rejected around it before rising steadily towards the upper trend line which is our resistance, it was rejected and is currently moving on a bearish momentum towards the supportive line an More	Remain flat temporarily. Technical observation On the hourly chart above, USD broke above a resistance line 112.62 and is currently rallying on an increasing bullish momentum towards the key resistance zone 113.23-113.18, my expectation is a loss of this momentum within the zone followed by bearish price rally towards 112. More
06 December	We're flat	Remain short	Wait for a breakout below 112.67 to sell USD.
05 December	Remain short towards 1.1268	Remain flat temporarily.	Wait for a correction to 113.17-113.13 to sell USD
04 December	Sell Eur from 1.1532. with your take profit along the supportive trendline.	Flat	Buy a bunce form the lower trendine with your take profit at 113.85.
03 December	Remain flat.	We're flat temporarily	Wait for a correction to re-buy USD.

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Forex Technical Analysis: Trend potential

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