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.
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Gas along a key monthly support line 2.834 Technical Observation For three months consecutively, Gas has declined in price but is currently slightly a few pips above a key monthly support line 2.834. I expect a rejection from this monthly key line to long gas. That is, unless 2.834 is clearly br
Technical Observation Recently, the price spiked above the weekly resistance line 1.1444 but is showing signs that it could below it by the end of this week. Unless the price close above this resistance line, I expect a rejection from this line to short Eur towards my take profit 1.0520. If 1.1444
Technical Observation Finally the price took my take profit line 1.2810 and is currently pulling back upwards. This is just retracement move towards the resistance line 1.2921, where I've placed a pending sell limit order. On the hourly chart above, short positions still look more ideal but the bes
Technical Observation My pending sell limit order was opened when price crossed the resistance line 113.62, the price continued bearish and took out my Take profit set at 112.94. On the hourly chart above, sell positions still look more ideal especially if the price can break clearly below the supp