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.
| 08 - 12 October |
weekly
forecast 08 - 12
October #ASK Technical observation On the daily chart above, #ASK broke above a resistance zone 6337.1-6112.7 with a big green candle before retracing to it. Currently it is rallying within the zone and I expect either a rejection of it within it or a possible breakout below the zone for possible bearis | ||
| 2018 | EURUSD | GBPUSD | USDJPY |
| 12 October | Technical observation EUR/USD is on an increasing bullish momentum and I expect a loss of this movement within the resistance zone 1.1853-1.1819 to pick short positions within or around it with my ideal target at 1.1539 and stop loss around 1.1967.Should there be a clear breach above 1.1853-1.1819 w | Technical observation For the past few days, this pair has been rising steadily towards the resistance zone 1.3315-1.3281. Right now it is rallying below this zone and I expect arise to it followed by a bounce for possible bearish momentum towards 1.2904.I’m looking to sell this pair within the abov | Technical observation USD/JPY is rallying below a key resistance line 112.72,I expect a correction to it followed by a rejection for possible bearish momentum towards 111.74 and a possible breakout below it for a further decline in price towards 110.47.Wait for the retracement to 112.72 then sell th |
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