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.
| 14 - 18 May |
weekly
forecast 14 - 18
May Brent weely Technical observation On the weekly chart above, Brent has been racing towards a resistance line 80.16 for the past weeks, last week Brent could not penetrate above the line and was rejected. Currently it is showing signs of correcting to the support zone 62.35-60.83 and I expect a r | ||
| 2018 | EURUSD | GBPUSD | USDJPY |
| 18 May | Technical observation On the daily chart above,EUR/USD yesterday rallied down towards a support line 1.1739 and I expect a breakout below followed by a correction to it for possible bearish momentum towards the support line 1.1518,in case price breaks below it ,I expect a further decline in pric | Technical observation Yesterday’s candle closed as a pinbar; it sent its tail to the resistance line 1.3562,and could not penetrate above the line and so was rejected, I expect bearish momentum towards 1.3302 and a breakout below it for a further decline in price towards 1.3054 as I expect a decl | Technical observation USD/JPY yesterday went up instead of correcting to 110.15 as I had predicted, I expect a rise I price towards 111.29 and a breakout above it for a further rise in price towards 1114.34. If you bought the pair yesterday I would advise you remain in the trade and if you had no |
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