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.

17 - 21 December	weekly forecast 17 - 21 December Remain flat temporarily with Brent #ASK weekly Technical observation #ASK declined below the key supportive 5640.9-5595.5 last week and I still expect more bearish momentum below the zone for a clear breakout followed by a correction to the just broken zone and a rejection within it for possible bearish rally towards 5053.3 and a More
2018	EURUSD	GBPUSD	USDJPY
21 December	We're short towards 1.1214 Technical observation Yesterday, EUR/USD rose to the resistance level 1.1454 but it could not penetrate above it and was rejected. Right now, it is rallying on an increasing bearish momentum towards the support 1.1214 and my expectation is a possible decline in price towards the level and a breakou More	Sell GBP at 1.2696 Technical observation Just like EUR, GBP could not penetrate above the resistance 1.2696, price bounced at it and is now rallying towards the support 1.2113.I expect possible bearish price rally towards 1.2113 and a breakout below it followed by a pullback to it for a further decline towards 1.1526 More	Wait for a correction to sell USD Technical observation Yesterday price penetrated below a key support level 111.85 with a big red candle. Currently it is correcting to the just broken line and I expect a rejection of price at it for possible bearish momentum towards 109.45. I’m looking to sell this pair at 111.45 with my take prof More
20 December	Remain flat temporarily.	We're flat	Remain flat
19 December	Sell EUR at 1.1454	We're short at 1.2696	Remain flat
18 December	Remain flat	Wait for a correction to 1.2670 to sell GBP.	Remain short towards 111.85.
17 December	Sell EUR within 1.1542-1.1457	Remain flat	Remain flat

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Forex Technical Analysis: Trend potential

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