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 October	weekly forecast 15 - 19 October Sell #ASX at 6130.0 #ASX weekly Technical observation Last week,#ASX went down below a supportive key line 6130.0 with a big red candle, it rallied steadily towards the key supportive zone 5684.1-5639.7 but could not reach it and is still showing signs of declining towards it.This week’s candle opened below 6130 More
2018	EURUSD	GBPUSD	USDJPY
19 October	Remain flat temporarily. Technical observation The pair on the chart above rallied up to the support 1.1441 but could not penetrate below, price then went up by one candle and is currently moving down. I expect either a correction to the resistance 1.1533 or a clear breakout below 1.1441 followed by a correction to it for d More	Re-sell within 1.3315-1.3281. Technical observation GBP/USD went down as predicted but did not reach the support 1.2904,currently it is pulling back to the zone 1.3315-1.3281 and my expectation is a bounce within it for possible downwards movement of price towards 1.2904 and a possible breach below it for a further decline in pr More	We're long towards 114.51. Technical observation Yesterday USD/JPY pulled back to the key supportive zone 111.82-111.61 but could not penetrate below it, price was rejected and is currently rallying towards 114.51.I expect a possible rise to the line followed by a breach above it for further bullish momentum. I picked long p More
18 October	Wait	Remain short	Wait for a correction
17 October	Remain flat temporarily.	We're short towards 1.2904	Remain long
16 October	Remain flat temporarily.	Sell GBP/USD within 1.3315-1.3281	Buy USD/JPY within 111.82-111.61
15 October	Wait for a correction to 1.1823-1.1802	Wait	Remain flat temporarily.

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Forex Technical Analysis: Trend potential

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