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 Just as we indicated in the previous day's forecast, EURUSD rose significantly and even hit the daily high 1.1025 but could not sustain the break above it. While the price is contained below this level, 1.1025, we expect a possible momentum to the lowerside. On its way to the
Technical Observation Just as we mention in the previous forecast, USDJPY rallied to the upper side and even went above the 50.0% fib level, 107.47. The close above this level is a clear sign that we're continuing to the upperside, therefore. While the price is still contained above the 50.0% fib l