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 |
| 29 January | Technical observation On the weekly chart above, price is trading with an increasing bearish bias below a resistance line 1.2249, my expectation is a rally to the lower side to the supportive zone 1.1450-1.1513 followed by a rejection within it to pick long positions. However, this pair could stil | Technical observation For two consecutive weeks now GBP has been trading with an increasing bullish bias, I expect this pair to rise steadily to the resistance line 1.4249 followed by either a clear breakout above it with a big green candle, or a bounce at it followed by a correction to the suppor | Technical observation USD rose steadily and is currently trading below the resistance line 104.69 with an increasing bearish bias. If you bought this pair within the zone 103.70-103.62, at the level 104.69 was the ideal place to pick your profits. I expect either a decline to the supportive zone m |
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