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.
| 26 February - 02 March |
weekly
forecast 26 February - 02
March Brent weekly Technical observation On the weekly chart above, Brent broke above a key resistance zone then went up. It then got corrected to a key support zone (62.35-59.57), price then went up to a key resistance line 70.16 then got corrected again to the support zone but | ||
| 2018 | EURUSD | GBPUSD | USDJPY |
| 02 March | Technical observation Yesterday, the pair on the daily chart above failed to be a clear breakout below a support zone instead it went down and retraced at a lower support zone (1.2209-1.2164),price could not penetrate below the zone and so it got rejected and is currently rallying up towards a re | Technical observation Just like the pair EURUSD,GBPUSD also did not breach the yesterdays’ support zone, it went down to a lower support zone(1.3803-1.3756) and it could not break below it, price got rejected within the zone and is currently trading towards a key resistance line 1.4256,you can st | Technical observation After a breakout below the support zone (108.03-107.80), price rallied down up to a key line 105.53,it got rejected and was corrected to the zone twice before continuing down. Right now the pair is rallying towards 105.53 and I expect a possible rejection or a breakout below |
| 01 March | |||
| 28 February | |||
| 27 February | |||
| 26 February | |||
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