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.
| 06 - 10 February |
weekly
forecast 06 - 10
February #Gold weekly Technical observation Last week the commodity on the chart above declined with a big red candle and this week I expect either a continuation of this bearish movement or a rise to the upper side. In case of a rally to the lower side, I expect a rejection within the supportive zone 1 | ||
| 2023 | EURUSD | GBPUSD | USDJPY |
| 10 February | Technical observation On the chart above price is trading with an increasing bearish bias between the supportive zone 1.0410-1.0372 and a resistance level 1.1123. This downwards movement is a correction to the zone i have indicated above and I expect a possible rejection within it followed by a | Technical observation GBP is pulling back to the supportive zone 1.1690-1.1623 and I expect either rejection of price within this zone or a clear break below it with a big red candle. My advice, remain neutral and wait for pullback to the zone indicated above then buy GBP within it with your take | Technical observation USD declined to the supportive level 126.78 then bounced at it and since then it has been trading with an increasing bullish bias. This upwards movement is a pullback to the resistance zone 138.92-138.25 and I expect a rejection within it followed by a surge to the lower side |
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