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.
| 2021 | EURUSD | GBPUSD | USDJPY |
| 31 December | Technical observation On the weekly chart above price is trading with an increasing bullish bias below the resistance zone it established at 1.1426-1.1385, I expect a continuation of this upwards movement to the same zone followed by a rejection within it to pick short positions with my take profi | Technical observation GBP declined and broke below the zone 1.3348-1.3294 but it was not contained below it, instead price rose above the same zone and it is still showing signs of rising even further, however, I expect a loss of this upwards movement followed by a correction to the zone mentioned | Technical observation This week, the value of the pair on the chart above rose above the resistance zone it established at 114.72-114.29 with a big green candle and as long as it is contained above this zone I expect further bullish movements of price. Right now I anticipate a slight rally to the |
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