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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#ASK weekly Technical observation #ASK declined towards a key supportive zone 5644.2-5598.7 and is currently penetrating below it. My expectation is a clear breakout below the zone followed by a correction to it and a rejection within it for possible bearish price rally towards the support 5094
Technical observation EUR/USD is correcting to the resistance zone 1.1542-1.1457 and my expectation is a rejection within it followed by possible bearish price rally towards the support 1.0437 and a breakout below it for a further decline in price. Right now you can remain flat temporarily and wait
Technical observation GBP/USD is rallying on an increasing bullish momentum towards the key resistance zone 1.3482-1.3319 and I expect a loss of this momentum within the zone followed by possible bearish momentum towards the support 1.1539 and a breakout below it for a further decline in price. You
Technical observation USD/JPY was rejected within the resistance zone 114.52-113.73 then rallied down. Price is still moving on bearish momentum and I expect a decline towards the key level 107.02 and a breakout below it for a further decline in price towards the lower key level 100.23.I sold this