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.
| 24 - 28 January |
weekly
forecast 24 - 28
January #XAUUSD weekly Technical observation The value of the commodity on the weekly chart above declined to the supportive zone 1764.41-1746.89 but could not break below it and for several weeks now, it has been trading with an increasing bullish bias. As long the value of #XAUUSD remains above the zo | ||
| 2022 | EURUSD | GBPUSD | USDJPY |
| 28 January | Technical observation On the hourly chart above price broke below the level 1.1236 then declined steadily and was sustained around the supportive level 1.1138. Currently, the pair above is trading with an increasing bearish bias above the line 1.1138, however, I expect a loss of this downwards mov | Technical observation GBP broke below the supportive level 1.3572-1.3550 with a big red candle then retraced to it once and price bounced below the zone then rallied to the lower side with an increasing bearish momentum. The value of this pair is still trading with an increasing bearish bias howev | Technical observation The pair on the hourly chart above broke above the zone 114.54-114.50 with a big green candle then retraced to it before rising steadily up to the resistance line 115.45. This pair however could not break above the line 115.45 and currently it is trading slightly below the sam |
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