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.

30 April - 04 May	weekly forecast 30 April - 04 May Wait for a pull back to 70.16 to buy Brent Brent weekly Technical observation On the weekly chart above, Brent broke above a resistance line 70.16 with a big green candle, it then raced up with two candles and is currently showing signs of pulling back to the broken line I don’t expect a penetration below it but a rejection of price with More
2018	EURUSD	GBPUSD	USDJPY
04 May	Remain flat Technical observation Yesterday I predicted a breakout below the support line 1.1931 but instead of going below the line,EURUSD was rejected from it and is currently pulling back to the resistance zone 1.2235-1.2192,I expect price to rise up to the zone and a rejection of it form the zone for pos More	Remain flat Technical observation GBPUSD was rejected around the support line 1.3512 and is currently correcting to the resistance zone 1.3783-1.3753.I don’t expect a breakout above 1.3783-1.3753 but a rejection of price within it for possible bearish movement of price towards the support line 1.3512 and a b More	Remain flat temporarily. Technical observation The breakout seen on the chart above on 1st of May this year was a false one as it yesterday broke again below the resistance line109.43,I expect a rejection of price form it for bearish momentum towards the zone 107.68-107.30.You can remain flat temporarily and wait for the More
03 May	Wait for a breakout below 1.1931.	looking to sell	Buy USDJPY around 109.43
02 May	Wait for a correction to 1.2245-1.2192	Looking to sell	Wait for a correction 109.43 to buy USD
01 May	Remain flat temporarily.	Buy GBPUSD now	Remain flat
30 April	Wait for a retracement to 1.2245-1.2192 to sell EUR	Buy GBPUSD now	Remain flat temporarily.

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Forex Technical Analysis: Trend potential

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