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.
| 04 - 08 October |
weekly
forecast 04 - 08
October #WTI weekly Technical observation The commodity on the weekly chart above rose up to the resistance level 76.73 but could not break above it, it bounced below the level and is currently trading with an increasing bearish bias, this bearish movement is a retracement to the supportive zone 59.77-5 | ||
| 2021 | EURUSD | GBPUSD | USDJPY |
| 08 October | Technical observation This week EUR has continued to trade with an increasing bearish bias below the resistance zone 1.1665-1.1626 it recently penetrated below. Despite this bearish movement I expect a correction to the just broken zone followed by a rejection within it to pick short positions with | Technical observation This week GBP has been trading with an increasing bullish bias towards the resistance zone 1.3661-1.3599, this bullish movement is a retracement to the zone and I expect a rejection within of price within it for a momentum to the lower side, however, price can still break ab | Technical observation The pair on the chart above has been trading with an increasing bullish bias for some time now, this week price has risen steadily with a big green candle and today I still expect it to rise further and even close bullish. Next week I expect the value of this pair to ascend f |
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