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.

31 July - 04 August	weekly forecast 31 July - 04 August ASX Review NASDAQ 100 Index Review Technical Observation; Last week, NASDAQ 100 Index remained above the three exponential moving averages and is still showing signs of moving even higher. I expect this index to push higher with a take profit at 6100.00. If this line is broken to the upper side, then t More
2017	EURUSD	GBPUSD	USDJPY
04 August	Still bullish towards 1.2554 Technical Observations Eur is currently trading slightly above it's daily pivot line 1.18641. Unless there's a breach below this pivot line with a big red candle, I expect a rise towards the weekly resistance line 1.2554. If the resistance is broken, then the price could rise higher towards the nex More	Bullish towards 1.3511 Technical Observations Yesterday, Gbp plummeted and is still showing signs of plummeting even further. Previous day's bearish rally is a retracement move to the lower side towards the daily support line 1.2765. Where I've placed a pending buy limit order with my Take profit fixed at 1.3511 and stop More	Flat Technical Observations For the past few days, Usd has remained confined within the converging wedge formation but should break below it by the close of this week's candle or next week's candle. If a breakout is seen to the lower side, then I'll wait for a pullback to the just broken line to pick a More
03 August	Eur could rise towards 1.2558	Re-buy Gbp around 1.3027 towards 1.3461.	Flat
02 August	Pullbacks	Place a pending buy limit order around 1.3027.	Flat
01 August	Wait and buy Eur around 1.1459 towards 1.2558	Remain long towards 1.3461	Price below 110.31
31 July	Still very bullish	Look for long positions towards 1.3461	Look for short positions

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Forex Technical Analysis: Trend potential

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