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.
| 2023 | EURUSD | GBPUSD | USDJPY |
| 29 March | Technical observation On the hourly chart above, the price is trading with an increasing bearish bias above the supportive zone 1.0757-1.0749 and I expect a continuation of this downwards movement to the same zone followed by a rejection within it. My advice, remain flat and wait for a correction | Technical observation GBP rose to the resistance level 1.2343 but did not break above it, instead it bounced at the same level and since then it has been trading with an increasing bearish bias. This downwards movement is a correction to the supportive zone 1.2145-1.2135 and I expect a possible re | Technical observation USD is pulling back to the level 132.76 with an increasing bullish bias and I expect a rise to the same line followed by either a rejection at it or a clear break above it with a big green candle. In case of a rejection at the level 132.76, sell a bounce at it with your take |
| 28 March | |||
| 27 March |
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