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.

01 - 05 August	weekly forecast 01 - 05 August Remain long with #ASX #SP500 weekly Technical observation Last week #SP500 rose with a big green candle and this week I expect a continuation of this upwards movement towards the resistance level 4785.0. If you picked long positions within the zone indicated above and are is holding bullish positions, my advice is, More
2022	EURUSD	GBPUSD	USDJPY
05 August	Pick short positions within the zone 1.0276-1.0268 Technical observation EUR is trading with an increasing bullish bias below the resistance zone 1.0276-1.0268 and I expect a continuation of this upwards movement to the zone I have mentioned above followed by a rejection within it. My advice, remain neutral temporarily and wait for a correction to More	Wait Technical observation GBP declined to the supportive zone it establishes at 1.2084-1.2071 but could not break below it, instead it bounced within the same zone and since then it has been trading with an increasing bullish bias. My expectation is a further surge to the key level 1.2316 followed by More	Remain bearish towards 130.40 Technical observation On the hourly chart above price pulled back to the resistance zone 134.50-134.31 but did not break above and since then it has been trading with an increasing bearish bias. As long as USD is sustained below the zone I have indicated above I expect a continuation of this downwa More
04 August	Expecting a surge to 0.9988	We are bearish towards 1.1775	We are neutral.
03 August	We are short towards 0.9264	Wait for a correction to the zone 1.4781-1.4158	We are neutral.
02 August	Expecting a surge to 0.9988	Remain flat temporarily	Buy USD within 131.79-131.50
01 August	Looking to sell within 1.0269-1.0232	Pick short positions within 1.21861.2165	Wait for a correction to the zone 127.25-126.67

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Forex Technical Analysis: Trend potential

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