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.
| 15 - 19 August |
weekly
forecast 15 - 19
August #SP500weekly Technical observation Last week #SP500 rose with a big green candle and as long as it is sustained above the zone 3633.8-3682.8 I expect a continuation of this upwards movement towards the resistance level 4785.0. In case you are currently holding bullish positions with the commod | ||
| 2022 | EURUSD | GBPUSD | USDJPY |
| 19 August | Technical observation EUR declined to the supportive level 1.0083 but could not break below it, instead it bounced at the same line and currently it is trading with an increasing bullish bias. Today I expect a continuation of this upwards movement to the resistance zone 1.0366-1.0349 followed by a | Technical observation GBP broke below the supportive level 1.2001 with a big red candle then rallied further downwards for a while, currently it is trading with an increasing bullish bias and I expect a continuation of this upwards movement towards the just broken line. The expected bullish movemen | Technical observation On the hourly chart above, price rose above the resistance zone 135.59-135.47 with a big green candle and it is currently trading above the same zone with an increasing bullish bias. However, I expect a loss of this upwards movement followed by a correction to the zone I have |
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