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.
| 19 - 23 March |
weekly
forecast 19 - 23
March Technical Observation Last week, gold went below the short term support line 1317.65 but is currently being supported buy a daily support drawn at 1312.51. Unless the price clearly break below 1312.51, this is a good buy place for intraday traders, if you buy the yellow metal now, you should have | ||
| 2018 | EURUSD | GBPUSD | USDJPY |
| 23 March | Technical observation EURUSD is rallying in between a key line 1.2503and a support zone (1.2215-1.2183),I expect either a correction to the zone or a breakout above 1.2503 with a big green candle for bullish movement of price towards 1.2778.In case of a breakout below (1.2215-1.2183)with a big re | Technical observation Two days ago, GBPUSD broke up above a key resistance line 1.4101 with a big green candle, yesterday; price was corrected to the broken line and is currently showing signs of rising. I expect a rise in price towards 1.4344 and even a breakout above it for further bullish move | Technical observation Yesterday, price broke down below the line 105.52 as I predicted earlier and I expect a decline in price towards 102.85 and a breakout below it followed by a further decline in price towards 100.07.Right now I’m waiting for a retracement to 105.52 to sell USD with my take pr |
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