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.

16 - 20 May	weekly forecast 16 - 20 May Remain flat with #SP500 #XAUUSD weekly Technical observation The commodity on the weekly chart above has been trading with an increasing bearish bias for the past four consecutive weeks and this week I expect a continuation of this downwards movement to the supportive zone it established at 1699.59-1684.80 followed by More
2022	EURUSD	GBPUSD	USDJPY
20 May	Wait for a correction to the zone 1.1541-1.1495 Technical observation On the weekly chart above price bounced at the supportive level 1.0405 and this week it has been trading with an increasing bullish bias. This upwards movement is a correction to the resistance zone price established at 1.1541-1.1495 and I expect a rejection within it to re-se More	Remain flat Technical observation Just like EUR, this week GBP opened bullish and I expect it to close the same. Next week I anticipate further upwards movement of price towards the resistance zone 1.3355-1.3418 and I would advise that you remain neutral and wait for a pullback to the zone mentioned above then More	Wait Technical observation Last week USD declined with a big red candle and since the beginning of this week price is trading with an increasing bearish bias. My expectation is a surge to the supportive level 125.60 followed by a rejection within it pick long positions with my take profit at 137.27 and More
19 May	Wait	Looking to sell within 1.2389-1.2379	we are neutral
18 May	We are bearish	Remain flat	Expecting a rally to 127.92
17 May	Remain flat	Wait	Wait for a correction to buy USD
16 May	Wait for a correction to sell EUR	Wait for a correction to the level 1.2635 to sell GBP	Expecting a momentum to 131.24

FreshForex is a brand that provides access to online trading for clients from more than 200 countries all over the world. The Company's partners are the licensed European liquidity providers, banks, payment aggregators and systems with which the company has been cooperating for more than 19 years.
Clients must be at least 18 years old to use the services of the Company.
The company's services and information on the site are not intended for citizens and residents of some countries, such as Belgium, China, North Korea, France, Hong Kong, Russian Federation, Spain, Great Britain, USA, and also countries identified by the FATF as high-risk countries or countries with serious AML/CFT deficiencies; countries or regions that are under international sanctions. A complete list is available on the "Countries where the company's services are not provided" page. The Company does not have representative offices in the Russian Federation and does not register clients from the Russian Federation.
Risk Warning: Trading financial instruments with leverage carries high risks and can result in both profits and losses. Potential losses are limited by the deposit amount. Before deciding to trade, the client should assess their risk tolerance, experience, and knowledge level.

Freshforex.com uses cookies for better website operation, traffic flow analysis, and personalization. By using this website you agree to our Cookie Policy.
User Data privacy is protected in accordance with GDPR. The SSL certificate installed on the website transfers the information over a secure protocol.
The site contains links to websites of third parties. The Company does not check or control the third-party resources that are in any way related to the FreshForex site, so the Company is not responsible for any third-party information or materials posted.
By creating a link to a third party website, the Company does not endorse or recommend any products or services offered by the third party.
The website content is intended for informational purposes only. It should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorized. It also should not be considered as an offer/solicitation to any person to whom it would be unlawful to make such an offer or solicitation, nor regarded as a recommendation to buy, sell or otherwise deal with any particular currency or any other trading asset investment. If you are not sure about your local trading regulations, please, leave this website immediately.

© 2004—2024 FreshForex – Forex broker
Reproduction of the contents is allowed only with active hyperlink to original source.

Riston Capital Ltd (20623 BC 2012) with registered address at Suite 305, Griffith Corporate Centre, Beachmont, P.O. Box 1510, Kingstown, Saint Vincent and the Grenadines.

Forex Technical Analysis: Trend potential

Our best awards: