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.
| 23 - 27 August |
weekly
forecast 23 - 27
August #BTCUSD weekly Technical observation The commodity on the weekly chart above has been rising steadily towards the resistance level 47956.53, last week it broke above the same level with a big green candle and it is still showing signs of rising even further. I expect a retracement to the just b | ||
| 2021 | EURUSD | GBPUSD | USDJPY |
| 27 August | Technical observation Since the beginning of this week, EUR has been trading with an increasing bullish bias and I expect this week’s candle to close bullish. If you bought this pair at the supportive zone 1.1605-1.1571, remain in the trade with your take profit at 1.2248 and stop loss at 1.1388. | Technical observation On the weekly chart above GBP was sustained above a supportive zone 1.3661-1.3599 and is currently rising steadily, as long as price is above this zone, I expect upwards movements to the resistance level 1.4615, If you bought GBP within the zone I have mentioned above and is | Technical observation On the chart above, USD is trading within a rising wedge as indicated, price retraced to the lower to a level 109.48 but could not break below the wedge, it was contained above 109.48 and as long it does not break below this level, I expect a momentum to the upper side. Last |
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