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.

16 - 20 November	weekly forecast 16 - 20 November Sell #FTSE100 within 6526.1-6466.3 #ASX weekly Technical observation The commodity in the chart above penetrated above a resistance zone it established around 6148.7-6099.7 with a big green candle and is still showing signs of rising even further. However, I expect a correction to the just broken zone followed by a clear bounce More
2020	EURUSD	GBPUSD	USDJPY
20 November	Pick your profits at 1.1895 Technical observation On the 4-hour chart above, price has been rising steadily since it bounced within the supportive zone 1.1813-1.1807. Currently EUR is trading with an increasing bullish momentum below a resistance line 1.1895 and I expect either, a clear breakout above it with a big green can More	Remain bullish towards Technical observation This week GBP has been trading with an increasing bullish momentum and I expect it to close bullish. If you are currently long with GBP, remain so and pick your profits now at 1.3305. Next week, I anticipate either a clear breakout above the resistance level 1.3305 with a bi More	We're bearish towards 103.49 Technical observation USD pulled back to the resistance line 104.11 as anticipated and did not break above it; price bounced at the line and is currently trading with an increasing bearish momentum. I expect this downwards movement to continue to the supportive level followed by a clear breakout b More
19 November	We're flat	Buy a bounce within 1.3229-1.3223	Pick your profits 103.30
18 November	Remain long	We're flat	Wait
17 November	Still bullish towards 1.1859	Wait	We're short towards 104.12
16 November	We're bullish towards 1.1859.	We're flat	Wait

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Forex Technical Analysis: Trend potential

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