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.

20 - 24 November	weekly forecast 20 - 24 November Bitcoin Still To Rise Bitcoin Trade Signal Technical Observation: As I said on last week's analysis, Bitcoin gaped to the lower side, but ended up closing of the other week's highest high 7867.6. I recommended buy this cryptocurrency last week after a retracement, and as it appeared, bitcoin retraced slightly lower More
2017	EURUSD	GBPUSD	USDJPY
24 November	Short Eur at 1.1876 Technical Observation: As I said earlier this week, Eur pulled back upwards and is currently rallying around a key resistance zone 1.1876-1.1856. This is a potential sell zone and unless there's a clear bullish breakout above this zone with a big green candle, I'm waiting for a bounce from this zo More	Long Gbp at 1.3300 Technical Observation: After a spike to the upper side on Wednesday, Gbp pullback lower the other day but is still above the 4 hour resistance 1.3300. While the price is above this line, I expect an acceleration towards 1.3630 or even higher. As is it on the daily chart above, only a long position More	Still short with the first take profit at 110.30 Technical Observation: After a sharp decline in price seen on Wednesday, Usd is still reluctant to continue short. Today, I expect a decline in price towards 110.30 or even lower towards 108.41. As it is on the daily chart above, only a short position can be recommended with a take profit fixed at More
23 November	Bullish pin bar on the 4 hour chart	Remain long towards 1.3660	Wait for retracements towards 111.65
22 November	Resell Eur around 1.1757	Bulls slowly gaining momentum	Short towards 104.41
21 November	Short towards 1.1542	Remain long towards 1.3576	Sell Usd around 114.30
20 November	Flat for now	Long Gbp now towards 1.3576	Remain towards 111.72

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Forex Technical Analysis: Trend potential

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