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 |
| 26 February | Technical observation EUR retraced to a supportive level 1.2041 but could not break below it, it bounced at the line and is currently trading with an increasing bullish bias. I expect this upwards movement to continue to the resistance line 1.2759 followed by either a clear breakout above it with | Technical observation On The weekly chart above, price did not break above the line 1.4249; it bounced at it and is currently trading with an increasing bearish bias. This bearish movement is a correction to the supportive zone 1.3461-1.3409 and I expect a loss of it within the zone to pick long p | Technical observation USD pulled back to the supportive zone it established at 104.79-104.37 but did not break below it. It bounced within the same zone and is currently trading with an increasing bullish bias; I expect this upwards movement to continue to the key level 117.91. If you bought this |
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