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.

08 - 12 May	weekly forecast 08 - 12 May Remain short with #Brent #Gold weekly Technical observation The value of the commodity on the chart above has been rising steadily for several weeks now and currently it is trading with an increasing bullish bias slightly below the level 2034.7, I expect either a loss of this upwards at the same level or a clear break More
2023	EURUSD	GBPUSD	USDJPY
12 May	Remain short Technical observation On the chart above, the price broke below the level 1.1002 then retraced to it and currently it is trading with an increasing bearish bias, my advice, if you are currently holding short positions with this pair, I recommend you remain in the trade with your take profit at 1.08 More	Buy GBP at 1.2491 Technical observation GBP is trading with an increasing bearish bias towards a trend line as shown above and I expect a loss of this downwards movement at the same level followed by a possible surge to the upper side. My advice, place a pending buy limit order at the level 1.2491 with your take pr More	Remain long Technical observation USD retraced to the supportive zone it established at 133.83-133.82 then bounced within it and since then it has been trading with an increasing bullish bias. As long as the price is sustained above the zone I have mentioned above, I expect a further surge to the upper side a More
11 May	Expecting a rally towards 1.0319	Sell GBP now within the zone 1.2669-1.2609	We are short towards 126.78
10 May	Remain short	Sell GBP within the zone 1.2662-1.2575	Remain long
09 May	Wait	Wait for a correction to 1.2470	Remain long with your take profit at 138.12.
08 May	Sell EUR within the zone 1.1048-1.1075	Pick short positions within the zone 1.2669-1.2609	Remain short with your take profit at 126.7.

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Forex Technical Analysis: Trend potential

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