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 Yesterday, EURUSD spiked massively to the upper side and is currently around the monthly resistance zone 1.1127-1.1176. This is a key zone and as long as the price remains below it, we expect nothing but a possible momentum to the lower side, we're basically waiting for a boun
Technical Observation Just as in EURUSD, GBPUSD bounced off from the dynamic supportive moving average and even went above the previous day's highest high. Following this breakout, we expect further momentum to the upper side. While the price remains above 1.3210, we're looking for possible long te
Technical Observation Not much happening on this pair, since the beginning of this week, USDJPY has remained held above the supportive trend but is yet to make a significant retracement, I'm expect a possible 50.0% fib retracement that could see price pullback upwards towards 109.15. On the other