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.

27 - 31 August	weekly forecast 27 - 31 August Short Brent within 80.61-78.85 Brent weekly Technical observation Brent has been trading below the resistance zone 80.61-78.85 for several weeks now. Unless there’s a clear breakout above this zone with a big green candle I expect a surge to the lower side with an ideal take profit at the support line 61.32 and the next at More
2018	EURUSD	GBPUSD	USDJPY
31 August	Remain flat Technical observation EUR/USD has started pulling back to the support 1.1540, I expect a rejection of it at the line for possible bullish momentum towards 1.1849 and a possible breach above it with a big green candle for a further rise in price. In case there’s no rejection at 1.1540 but a breach be More	Remain flat temporarily. Technical observation GBP/USD is still pulling back to the just broken line 1.2925, I expect a rejection of price at it for upward movements of GBP.Long the pair on the second retracement to 1.2925 just to ensure it is not a false breakout. In case it is and there’s a breach below 1.2925, wait for a More	Wait for a correction to 111.51-111.43. Technical observation Yesterday there’s was a false breakout above the resistance zone 111.51-111.43 and so it did not go as predicted. Price could not be contained above the zone and so another breakout was seen below it and currently USD is pulling back to the just broken it.I expect a rejection o More
30 August	We're flat	Wait	Wait for a correction to 111.51-111.43
29 August	Remain flat.	Remain short	Resell within 111.32-111.30.
28 August	Wait for a correction to 1.1872-1.1849.	Short the pair at 1.2925	Short USD/JPY within 111.32-111.30.
27 August	Wait for a correction to 1.1591-1.1506.	Wait for correction to 1.3389-1.3317	Remain flat

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Forex Technical Analysis: Trend potential

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