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.
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Austalian Index Review Technical Observation The Australian index continues to consolidate within the equilibrium zone 5820.1-5692.6 and is not showing any signs of breaking either above or below it. I'm still jittery about shorting this pair, however, if the price can decline belo
Technical Observation Nothing has changed much since the other day's forecast. I still expect a decline in price towards the now support line 1.1481 to long Eur with my target still intact at weekly resistance line 1.2554. On the weekly chart above, long position still looks more ideal and can saf
Technical Observation According to the weekly chart above, Gbp is within an ascending wedge formation. I expect further ascend towards the weekly Resistance line 1.3375 and may break above. However, unless this line is clearly breached to the upper side with a big green candle, I expect a rejection
Technical Observation: Following the breakout below the support line 111.34, Usd retraced back to it earlier today but got contained below it. I went short following the rejection from this now resistance line and is still holding onto this position. If you didn't short Usd around 111.34, wait for
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