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.
| 12 - 16 June |
weekly
forecast 12 - 16
June Short the Australian Index towards 5374.3 Technical Observation On June 6th 2017, the Australian Index broke out below the daily support line 5692.7 as I forecasted and has currently retraced back to it now. In this week, unless there's a clear breakout above 5692.7 with a big green candle | ||
| 2017 | EURUSD | GBPUSD | USDJPY |
| 16 June | Technical Observation Following the false breakout above 1.1224, EUR dropped almost 100 pips and could still fall today. The current upward consolidation is a retracement in form of a flag and is not good to be bought, instead, I'm waiting for a breakout below this flag to short EUR towards 1.1082. | Technical Observation GBP is slowly rising above the resistance line 1.2765. Following the first failed attempt to break above this resistance line, I'm still reluctant to long GBP. Rather, I'm waiting for a confirmation that this break is genuine and that the price will remain above 1.2765. On the | Technical Observation Recently, there was a clear breakout when USD rose above the resistance line 110.63. This is a sign that bulls could be encroaching this market; although I expect an upward move, its safe to wait for a retracement to the just broken resistance line to long USD. On the 4 hour c |
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