Forex Technical Analysis: Trend potential

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.

15 - 19 November	weekly forecast 15 - 19 November We are flat with #Brent #Gas weekly Technical observation The value of the commodity on the weekly chart above retraced to the supportive zone 4.843-4.757 and bounced within it as I had anticipated. Right now it is trading with an increasing bullish bias and I expect a continuation of this bullish movement to the res More
2021	EURUSD	GBPUSD	USDJPY
19 November	Wait for a correction to sell EUR Technical observation EUR broke below a supportive zone 1.1661-1.1625 with a big red candle then pulled back to it but could not break above it and as long as EUR is sustained below this zone I can only recommend short positions. This week price has declined steadily with a big red candle; however, More	Expecting a rally to the level 1.4242 Technical observation Since it bounced at the supportive zone 1.3408-1.3354, this week the value of the pair on the chart above has been trading with an increasing bullish bias and as long as it remains above this zone i expect a continuation of this bullish movement to the resistance level 1.4242 More	Wait for a breakout above the zone 114.35-114.00 Technical observation On the weekly chart above, price has been trading with an increasing bullish bias on the resistance zone it established at 114.35-114.00, I expect a continuation of this upwards movement followed by a clear break breakout above the zone with a big green candle. Right now as it More
18 November	Sell EUR at 1.1351	we are flat	Remain flat
17 November	Looking to sell within 1.1511-1.1469	Buy GBP within 1.3422-1.3412	Wait for a correction to 114.41 to buy USD
16 November	Remain flat	we are flat	Wait
15 November	Wait	Looking to sell within 1.3454-1.3424	Remain flat

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Forex Technical Analysis: Trend potential

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