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.

20 - 24 July	weekly forecast 20 - 24 July Buy #HSI within 25376-25113 #WTI weekly Technical observation The commodity on the weekly chart above has been trading with an increasing bullish momentum around a resistance zone 39.50-40.71. Last week’s candle closed bullish within the above-mentioned zone and this week, I expect a possible surge to the lower side. If y More
2020	EURUSD	GBPUSD	USDJPY
24 July	Remain flat Technical observation EUR did not decline as I had anticipated; instead, it rose with a big green candle above the resistance zone 1.1459-1.1513. I expect this week’s candle to close bullish above the resistance zone mentioned above. If this happens, wait for a correction to the just broken z More	Wait Technical observation Just like EUR, GBP is also showing signs of penetrating above a resistance zone it established around 1.2690-1.2613 with a big green candle. This week’s candle is trading with an increasing bullish bias just above the zone 1.2690-1.2613 and I expect a clear break above More	Remain flat Technical observation This week, USD has been trading with an increasing bearish momentum above a supportive zone it established around 105.02-104.41. My expectation is a clear breakout below the zone mentioned above with a big red candle followed by a pullback to it and a bounce for a surge to th More
23 July	Remain flat	Remain long	Remain flat temporarily.
22 July	Sell a bounce within 1.1513-1.1459	Remain flat	We're flat
21 July	Remain flat	We're flat	We're short towards 106.45
20 July	We're short within 1.1492-1.1425	Remain long	Remain short

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Forex Technical Analysis: Trend potential

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