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 May |
weekly
forecast 15 - 19
May #CAC40 weekly Technical observation #CAC40 is pulling back to the resistance zone it established at 5782.7-5689.0 and I expect a possible rejection within the same zone followed by a surge to the upper side. My advice, remain flat and wait for a correction to the zone indicated above then buy a | ||
| 2023 | EURUSD | GBPUSD | USDJPY |
| 19 May | Technical observation On the chart above, the price declined below the zone it established at 1.0801-1.0789 and it’s currently trading with an increasing bearish bias below the same zone. However, I expect a loss of this downwards movement followed by a pullback to the zone I have indicated above | Technical observation Since it bounced within the zone 1.2669-1.2609 GBP has been trading with an increasing bearish bias and as long as it is sustained below the same zone I expect a continuation of this downwards movement. If you already sold GBP within the zone indicated above, I recommend that | Technical observation USD retraced to the resistance zone 138.67-137.90 for the third time but still could not break above it, instead the price bounced within the same zone and it is currently trading with an increasing bearish bias. Today I expect a further rally to the lower side and I recommend |
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