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 EURUSD is in an active up trend. Following the break above the 127.2% fib level, 1.11118, I expect further momentum to the upperside and should break above 1.11420. On the hourly chart attached, I'm expect a retracement towards either the daily high 1.10618 or the 50.0% fib l
Technical Observation Few days Ago, USDJPY attempted a break above the daily high 108.613 but could not sustain this break. Following the break below the daily high, I expect this pair to decline even lower. On its way to the lowerside, we'll be focusing on the following levels 108.108, 107.796,