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 |
| 11 June | Technical observation On the weekly chart above, price is trading with an increasing bullish bias below a resistance level 1.2248, I expect either a clear breakout above the level with a big green candle, or a rejection of price at it followed by a correction to the zone 1.1605-1.1571. As it is on | Technical observation This week GBP has been trading with an increasing bullish bias and I expect it to close bullish. If you bought GBP within the supportive zone 1.3661-1.3599 and you are currently long, remain in the trade with your take profit at 1.4615 and stop loss at 1.3328. On the chart ab | Technical observation For several weeks now USD has been trading between a supportive zone 104.74-104.22 and a resistance level 114.53, last week price went down and I expect this week’s pair to close bearish too. If price declines to the zone I have mentioned above, I expect either a clear |
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