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.
| 25 - 29 December |
weekly
forecast 25 - 29
December Dark Cloud On Bitcoin Technical Observation: On the weekly chart above, a dark cloud formation was seen when last week’s candle engulfed the previous week’s candle. This is a potential bearish dominance signal, while the is still above 15434, I’m very optimi | ||
| 2017 | EURUSD | GBPUSD | USDJPY |
| 29 December | Technical Observation: On the weekly chart above, a key Resistance line can be seen at 1.2436, while key support lines can be seen at 1.1716, 1.1450, and 1.0484. This month and even in the next few months, I expect price to trade within the range 1.2436-1.1459, Unless there's a clear breakout above | Technical Observation: Since bouncing from the Brexit's lowest low 1.1530. Gbp- has remained confined above the rising trend line and is not showing any signs or breaking below it. Unless the price clearly breaks below 1.3302 and also below the lower trend line with a big red candle, I expect a mom | Technical Observation: On the daily chart above, a short term support line can be seen at 112.10 while a major support is seen at 108.41. Yesterday, there was a decline in price but still above 112.10. I expect further decline with my take profit at 112.10 and the next take profit at 108.41. As its |
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