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 Since the beginning of the week, EUR has been trading on an increasing bearish momentum and I expect it to continue to the lower side to the supportive level 1.0793 followed by a clear penetration below it and correction to it for a further surge to the lower side. If you are
Technical observation On the weekly chart above GBP is rallying above a supportive key level 1.2546 on an increasing bearish bias, my expectation is either a clear break below the line with a big red candle followed by a retracement to it, or a bounce at it followed by a correction to the resistanc
Technical observation USD corrected itself to a resistance zone it established around 108.71-108.59 but could not break above it and was rejected. Currently price is rallying on an increasing bearish momentum and I expect this movement to continue to the supportive level 107.90 followed by a clear