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.
| 2021 | EURUSD | GBPUSD | USDJPY |
| 13 August | Technical observation On the weekly chart above price declined to the supportive zone it established at 1.1754-1.1715 but did not break below it as anticipated, as long as price is contained above this zone I expect a momentum to the upper side to the resistance level 1.2257. My advice, wait for | Technical observation GBP is trading with an increasing bearish bias above a supportive zone 1.3661-1.3599, this bearish movement is a correction to the zone I have mentioned above and I expect a loss of it within the same zone for a surge to the upper side. My advice, remain flat temporarily and | Technical observation USD retraced to the zone 110.38-110.32 but did not penetrate below it, yesterday I expected a rise to the upper side but price did not move as anticipated, however, I still expect bullish movements of this pair towards the resistance level 111.50. If you picked long position |
| 12 August | |||
| 11 August |
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