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 |
| 05 November | Technical observation Yesterday EUR declined tremendously to the supportive level 1.1536, it hit our take profit at 1.1536 and even broke below it with a big red candle. Price pulled back to the broken line and it was sustained below it then rallied further downwards and as long as EUR remain bel | Technical observation Just like EUR, GBP declined steadily as I had predicted yesterday and even hit our take profit at the level 1.3547 price then broke below the same line with a big red candle ad as long as GBP is contained below the line I expect it to decline further towards the supportive le | Technical observation The pair on the 4 hour chart above is trading with an increasing bearish bias above the supportive zone 113.43-113.31,this bearish movement is a correction to the zone mentioned above and I expect a rejection of the price it followed by a surge to the upper side, however, ther |
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