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.
Technical Observation On this chart, the zone 1.10775-1.10610 is a major support which is yet to be tested properly. While the price is contained around this zone, we're looking for low risk buy orders. But should price break below 1.10610, then this will be a good place to look for long term sell
Technical Observation On the chart, the key zone to look for is 1.22185-1.21885, this is a key turn coat support and while the price is contained above it, we expect a momentum to the upperside. Following the rise above 1.22185, we're waiting for retracement back to the same level to pick a long t
Technical Observation For almost an entire week, the USDJPY has remained contained within the 50.0% fib level, 106.067 and the 100.0% fib level, 107.087. During this week and possibly part of next week, I expect this pair to remain within this range, not going above 107.087 and below 106.067. Curr