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.
| 13 - 17 November |
weekly
forecast 13 - 17
November EURO STOXX 50 index review Wave Analysis: Despite breaking above 3683.3, this index pulled back lower than expected and lost almost 98% the value it gained last week. This is an extreme drop and indicates a possible rise in the number of sellers in this market. Thus, during this week, we expect | ||
| 2017 | EURUSD | GBPUSD | USDJPY |
| 17 November | Technical Observation: On the 4 hour chart above, a key resistance zone can be seen around 1.1875-1.1857, if the price can rise and bounce from this place, then this will be the best place to short Eur towards 1.1565. Should the price breakout above the just mentioned zone, then further rise toward | Technical Observation: As I said earlier, Gbp rallied higher as expected and could rise even higher today. I went long around 1.3049 and is still holding onto this trade, I expect a momentum towards the 4 hour resistance line 1.3307, and a breakout above. If the price should break above 1.3307, the | Technical Observation: Earlier today, Usd plunged almost 70 pips and is still very bearish. I expect further decline in price towards the hour support line 111.65 and could breakout lower with the next take profit at 108.50. If you didn't short yesterday, you could wait for minor pullbacks to the u |
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