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.
| 28 December 2020 - 01 January 2021 |
weekly
forecast 28 December 2020 - 01 January 2021
#FTSE100 Weekly Technical observation The value of the commodity on the weekly chart above is trading with an increasing bearish bias, this downwards movement is a retracement to the supportive zone it established at 6530.0-6467.1, I expect a loss of this movement within same zone for a momentu | ||
| 2020 - 2021 | EURUSD | GBPUSD | USDJPY |
| 31 December | Technical observation On the weekly chart above, price is trading with an increasing bullish momentum below a resistance line 1.2286; I expect either a clear breakout above the line with a big green candle, or a bounce at it followed by a retracement to the supportive level 1.1852. My advice, if y | Technical observation GBP did not break below the supportive zone 1.3416-1.3409; it was contained above the zone and is currently trading with an increasing bullish bias. I expect this upwards movement to continue to the resistance line 1.4249 followed by a clear breakout above it for a further mo | Technical observation On the chart above, price is trading below a resistance line 103.24 with an increasing bearish bias; price recently broke below the same line then retraced to it and was contained below it. I expect this bearish rally to continue to towards 102.75. If you sold this pair at th |
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| 28 December | |||
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