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 October	weekly forecast 23 - 27 October Gold preparing to continue long Gold preparing to continue long Technical Observation Recently, Gold dropped in price but is still above the key daily support zone 1083.2-1080.48, unless there's a clear bearish break below this zone, I'm waiting for a rejection from this zone to buy Gold with an ultimate take profit at 1124.37 More
2017	EURUSD	GBPUSD	USDJPY
27 October	Wait and Long Eur around 1.1698 Technical Observation: Eur continues to plummet and is slowly getting below 1.1698. If the price can close below 1.1698 by the end of today, I expect further drop in price towards 1.1481, where I'll be looking for a long position towards 1.3138. However, if the price close above 1.1698, then I'll b More	Long Gbp around 1.3138 Technical Observation: Gbp continues to drop in price despite my previous analysis that it could rise upwards. I expect this downward rally to be a retracement rally towards 1.3138 where I'll be looking to re-buy Gbp with my take profit at 1.3665 and stop loss below the red dotted line, 1.3066. If More	Sell Usd around 114.38 Technical Observation: Usd is currently trading above its daily pivot line 114.35 but is still below the resistance line 114.38. Usd is still below a sell line, and unless the price clearly breaks above 114.38, I'm waiting for rejection from 114.38 to short Usd with my take profit at 108.25. On the More
26 October	Long towards 1.3138	Remain long towards 1.3665	Short Usd around 114.38 towards 108.05
25 October	Look for a long position towards 1.2610	waiting for a sell signal	Sell Usd on a rejection from 114.00 towards 111.55
24 October	Long Eur around 1.1716 towards 1.2479	Remain long towards 1.3670	Wait for a buy around 113.27 towards 113.90
23 October	Long towards 1.2479	Look for a buy position within 1.3157-1.3087 towards 1.3484	wait for a pullback towards 112.81 to long Usd towards 118.00

FreshForex is a brand that provides access to online trading for clients from more than 158 countries all over the world. The Company's partners are the licensed European liquidity providers, banks, payment aggregators and systems with which the company has been cooperating for more than 19 years.
Clients must be at least 18 years old to use the services of the Company.
The company's services and information on the site are not intended for citizens and residents of some countries, such as Belgium, China, North Korea, France, Hong Kong, Russian Federation, Spain, Great Britain, USA, and also countries identified by the FATF as high-risk countries or countries with serious AML/CFT deficiencies; countries or regions that are under international sanctions. A complete list is available on the "Countries where the company's services are not provided" page. The Company does not have representative offices in the Russian Federation and does not register clients from the Russian Federation.
Risk Warning: Trading financial instruments with leverage carries high risks and can result in both profits and losses. Potential losses are limited by the deposit amount. Before deciding to trade, the client should assess their risk tolerance, experience, and knowledge level.

Freshforex.com uses cookies for better website operation, traffic flow analysis, and personalization. By using this website you agree to our Cookie Policy.
User Data privacy is protected in accordance with GDPR. The SSL certificate installed on the website transfers the information over a secure protocol.
The site contains links to websites of third parties. The Company does not check or control the third-party resources that are in any way related to the FreshForex site, so the Company is not responsible for any third-party information or materials posted.
By creating a link to a third party website, the Company does not endorse or recommend any products or services offered by the third party.
The website content is intended for informational purposes only. It should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorized. It also should not be considered as an offer/solicitation to any person to whom it would be unlawful to make such an offer or solicitation, nor regarded as a recommendation to buy, sell or otherwise deal with any particular currency or any other trading asset investment. If you are not sure about your local trading regulations, please, leave this website immediately.

© 2004—2024 FreshForex – Forex broker
Reproduction of the contents is allowed only with active hyperlink to original source.

Riston Capital Ltd (20623 BC 2012) with registered address at Suite 305, Griffith Corporate Centre, Beachmont, P.O. Box 1510, Kingstown, Saint Vincent and the Grenadines.

Forex Technical Analysis: Trend potential

Our best awards: