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.
| 27 February - 03 March |
weekly
forecast 27 February - 03
March #Brent weekly Technical observation On the weekly chart above, #Brent declined below the supportive zone 89.08-86.78 with a big red candle; it then retraced to the just broken zone and bounced within it. Currently the value of this commodity is trading with an increasing bearish bias and as lon | ||
| 2023 | EURUSD | GBPUSD | USDJPY |
| 03 March | Technical observation On the 4 hour chart above, EUR is still pulling back to the resistance zone it established at 1.0779-1.0796 and I expect rise to the same zone followed by a possible rejection within it. My advice, remain flat and wait for a correction to the zone I have mentioned above then | Technical observation GBP has been trading with an increasing bearish momentum for several days now and I still expect a continuation of this downwards movement. Today I anticipate a further rally towards the supportive zone 1.1828-1.1852 followed by either a clear break below it with a big red c | Technical observation On the chart above USD broke above the resistance zone 134.91-134.48 and it is currently trading with an increasing bearish bias. This bearish movement is a correction to the just broken zone and I expect a rejection within it followed by a surge to the upper side. However, I |
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