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 |
| 01 September | Technical observation On the weekly chart above, the value of EUR opened bullish and this week I expect it to close green, this upwards movement is a correction to the resistance zone 1.2452-1.2342 and I expect a possible rejection within it followed by a rally to the lower side. My advice, remain | Technical observation GBP has been rising steadily for several weeks now and this week it continues to ascend even further. My expectation is a rise to the zone 1.4137-1.4250 followed by a bounce within it to re-sell this pair with my take profit at 1.1307 and stop-loss at 1.5025. If there is a p | Technical observation The value of the pair on the weekly chart above is trading with an increasing bullish bias slightly below the resistance level 151.83, next week I expect a possible rise to this line followed by either a clear break above it with a big green candle, or a rejection of price at |
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