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.
| 07 - 11 March |
weekly
forecast 07 - 11
March XAUUSDweekly Technical observation Last week the value of the commodity on the weekly chart above rose above the resistance zone 1916.49 -1904.53 with a big green candle and closed bullish above it. This week I expect a correction to the same zone however I would advise tha | ||
| 2022 | EURUSD | GBPUSD | USDJPY |
| 11 March | Technical observation Yesterday price declined as I had predicted and as long as it remains below the zone 1.1091-1.1079 I expect it to decline further towards the supportive level 1.0844. If you are currently holding short positions with the pair above, remain in the trade with your take profit at | Technical observation On the chart above price did not retrace to the resistance level 1.3271 as I had predicted, instead, it declined up to the supportive level 1.3081 but could not break below it and as long as price is above the level, I expect a correction to the line 1.3271 followed by a reje | Technical observation On the weekly chart above price has been trading with an increasing bullish bias as I had predicted, I expect a continuation of this upwards movement to the resistance level 123.23 followed by either a clear break above it with a big green candle, or a bounce at it followed b |
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