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.
| 22 - 26 August |
weekly
forecast 22 - 26
August #ASX weekly Technical observation #ASX pulled back to the supportive zone 6446.5-6365.7 but could not break below it, instead it bounced within the zone and since then it has been trading with an increasing bullish bias and this week I expect a continuation of this upwards movement towards | ||
| 2022 | EURUSD | GBPUSD | USDJPY |
| 26 August | Technical observation EUR is trading with an increasing bullish bias above the supportive level 0.9901 and I expect a continuation of this upwards movement to the resistance zone it established at 1.0403-1.0367. My advice, remain flat and wait for a correction to the zone mentioned above the pick s | Technical observation On the chart above, price declined to the supportive 1.1724 then bounced at it and since then it has been trading with an increasing bullish bias. This upwards movement is a correction to the zone 1.2661-1.2605 and I expect a rejection of price within it to pick short position | Technical observation USD is trading with an increasing bearish bias above the supportive zone 136.37-136.23 and I expect a loss of this downwards movement within the same zone followed by a rally to the upper side. My advice, remain flat and buy a bounce within the zone indicated above with your |
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