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.

11 - 15 April	weekly forecast 11 - 15 April Remain long with #XAUUSD towards 2074.28 #XAUUSD weekly Technical observation Last week the value of the commodity on the chart above rose following a correction to the supportive zone 1904.53-1887.52 and a bounce at it. This week I expect a further surge towards the resistance level 2074.28. If you are currently holding bullish positi More
2022	EURUSD	GBPUSD	USDJPY
15 April	Wait for a correction to sellEUR Technical Observation On the daily chart above price declined to the level 1.0768 but could not break below it, instead, it bounced at it and I expect a correction to the resistance zone 1.1160-1.1132 followed by a rejection within it to re-sell EUR with my take profit at 1.0768 and stop-loss at 1. More	Remain short Technical observation The value of the pair above has been trading with an increasing bearish bias for some time and if you are currently holding short positions I would recommend that you remain in the trade with your take profit at 1.2989 and stop loss at 1.3260. However, in case you are neutral More	Wait for a correction to re-buy USD Technical observation On the hourly chart above price retraced to a supportive zone 125.18-125.09 then rose steadily towards the resistance level 126.30. Currently price is trading below the same level with an increasing bearish bias and I expect a continuation of this downwards movement to the sup More
14 April	Wait	Wait for a correction to the zone 1.3050-1.3054	We are flat
13 April	Wait for a correction to re-sell EUR	Expecting a rally to 1.2982	Remain flat
12 April	Remain short	Expecting a surge 1.2028	Wait
11 April	We are short towards 1.0768	Expecting to sell within 1.3057-1.3050	We are flat

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Forex Technical Analysis: Trend potential

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