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.
| 15 - 19 October |
weekly
forecast 15 - 19
October #ASX weekly Technical observation Last week,#ASX went down below a supportive key line 6130.0 with a big red candle, it rallied steadily towards the key supportive zone 5684.1-5639.7 but could not reach it and is still showing signs of declining towards it.This week’s candle opened below 6130 | ||
| 2018 | EURUSD | GBPUSD | USDJPY |
| 19 October | Technical observation The pair on the chart above rallied up to the support 1.1441 but could not penetrate below, price then went up by one candle and is currently moving down. I expect either a correction to the resistance 1.1533 or a clear breakout below 1.1441 followed by a correction to it for d | Technical observation GBP/USD went down as predicted but did not reach the support 1.2904,currently it is pulling back to the zone 1.3315-1.3281 and my expectation is a bounce within it for possible downwards movement of price towards 1.2904 and a possible breach below it for a further decline in pr | Technical observation Yesterday USD/JPY pulled back to the key supportive zone 111.82-111.61 but could not penetrate below it, price was rejected and is currently rallying towards 114.51.I expect a possible rise to the line followed by a breach above it for further bullish momentum. I picked long p |
| 18 October | |||
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| 15 October | |||
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