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.
Technical Observation Yesterday, EURUSD bounced off perfectly from the swing low 1.0995 and is currently heading to the upperside, we expect the current move to the upperside to be a retracement to the upperside but should not go beyond the level 23.6, if this fib level is broken to the upperside t
Technical Observation GBPUSD is currently rallying between a falling channel formation. We expect the upward rally which began yesterday to continue to the upperside but should not go beyond the upper trendline. In case the price successfully break and close above this trend line, then I will be
Technical Observation Few days ago, after breaking above 108.441, the Us Dollar pulled back to the lowerside but could not go beyond the same level to the lowerside, while the price is contained above this level, I expect a possible momentum to the upperside and should go above 112.680 but should n