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.

21 - 25 May	weekly forecast 21 - 25 May Wait for a correction to 890.56 to short Platinum Brent weekly Technical observation On the weekly chart above, after breaking up above a resistance zone 62.35-60.83, Brent corrected to it twice as a support then rallied up towards a resistance line 80.16.Last week, it could not penetrate above it and so was rejected, short term traders can sho More
2018	EURUSD	GBPUSD	USDJPY
25 May	Short EUR/USD now Technical observation The pair on the daily chart above broke below a support line 1.1733 with a big red candle, yesterday price corrected to it and could not penetrate above so was rejected. As the pair is on a downward movement, you can short it now with your take profit at 1.1468 and stop loss a More	Remain flat Technical observation GBP/UDS has been trading on a down ward trend. Price retraced at a resistance 1.3512 before racing down, yesterday it pulled back but could not reach 1.3512,right now price is between 1.3512 and 1.3302 and i expect either a breakout below 1.3302 or a retracement to 1.3512 fo More	Long USD/JPY now Technical observation USD/JPY retraced well to the support 109.04, it could sent a tail to it and could not penetrate below it.Price is now moving up and I would advise you long the pair now with your take profit at 111.17 and stop loss around 108.27, if price breaks above this take profit, wait More
24 May	Short EUR around 1.1733	Remain flat	Long USD/JPY around 109.04
23 May	We're short	Short GBP around 1.3512	Remain flat
22 May	Wait for a correction to 1.1936	Looking to sell	Buy USD/JPY around 109.60
21 May	Short EUR/USD withn1.2235-1.2147	Wait for a correction to 1.3816-1.3696	Wait for a pullback to 110.14

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Forex Technical Analysis: Trend potential

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