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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Bitcoin Trade Signal Technical Observation: As I said on last week's analysis, Bitcoin gaped to the lower side, but ended up closing of the other week's highest high 7867.6. I recommended buy this cryptocurrency last week after a retracement, and as it appeared, bitcoin retraced slightly lower
Technical Observation: After reaching the 4 hour resistance zone 1.1677, Euro declined in price and is still showing signs of falling even further. If you didn't short around 1.1677, you could wait for minor pullbacks to the upper side then pick a short position with your take profit at 1.1582. As
Technical Observation: Despite the bullish pin bar candle seen on the previous week's candle, Gbp is yet to make any significant move to the upper side. Today and during the next few days, I expect a rise towards 1.3576 or even higher. As it is on the weekly chart above, only a long position can be
Technical Observation: Usd continues to pullback upwards despite the previous forecast that it could continue to fall. The upward rally that began yesterday is a pullback rally towards 113.15 where I'll be looking for short position. If the price can rise above 113.15, then further rise towards the