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.
| 14 - 18 August |
weekly
forecast 14 - 18
August NASDAQ 100 Index Review Technical Observation; After breaking below the support line 5840.8 with a big red candle in August 10th, NASDAQ 100 Index rallied even lower tested the next support line 5773.0 and has retraced back to 5840.8. This level acted as a support on 17th and 18th of July and | ||
| 2017 | EURUSD | GBPUSD | USDJPY |
| 18 August | Technical Observation Nothing has changed much since my previous analysis of this pair. I still expect a bearish retracement towards the support line 1.1459. If this support can be breached clearly to the lowerside with a big red candle, then I still expect the price to plummet even further. But as | Technical Observation Following the breakout below the support line 1.2711, Gbp continues to consolidate below this zone despite the expectations that should fall. This is just a retracement happening in form of a consolidation and unless there's a clear bullish breach above 1.2711, I expect a reje | Technical Observations On the weekly chart, shown on yesterday's forecast, Usd is showing signs of rising towards 115.01. However, on the 4 hour chart above, Usd just bounced off from a key resistance line 110.98 and could continue downwards. This means, intraday traders, trading this pair should f |
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