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.

23 - 27 April	weekly forecast 23 - 27 April Wait for a correction to 70.16 to buy Brent Brent weekly Reveiew Technical observation On the weekly chart above, Brent broke up above a key resistance line70.16 two weeks ago and has since then remained above it.Currently price is rallying above the line and I expect a correction to it for a possible bullish momentum towards the More
2018	EURUSD	GBPUSD	USDJPY
27 April	Wait for a pull back to 1.2216-1.2192 to sell EUR Technical observation After breaking down the support zone 1.2216-1.2192, EUR raced down and is currently showing signs of correcting to the zone, instead of penetrating to the upper side, I expect a possible clear rebound from this zone for price momentum the lower side. Although this bearish ra More	Wait for a buy signal Technical observation After breaking up above a resistance zone 1.3787-1.3754, GBPUSD used this zone as a support and has tested it thrice .Currently price is approaching this zone and a buy opportunity could show up soon. As long as price is above the support zone 1.3787-1.3754, price is expecte More	Buy USDJPY around 107.54-107.34 Technical observation On the daily chart above,USDJPY after breaking above a resistance zone, it rose up steadily towards a key resistance line 110.17 but it got rejected before it could reached it and is currently retracing to the broken zone 107.54-107.34.I expect a rejection of it within or ar More
26 April	Remain flat temporarily.	Remain flat	Remain flat
25 April	Remain long towards 1.2557	Buy GBP around 1.3787-1.3754	Looking for a buy position towards 110.17
24 April	Long EUR	Wait for a buy signal	Place pending buy limit around 107.54-107.34
23 April	Looking to buy EUR	Remain flat	Short USD

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Forex Technical Analysis: Trend potential

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