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.
| 2020 | EURUSD | GBPUSD | USDJPY |
| 11 December | Technical observation Last week, the pair EUR/USD broke above a supportive level 1.1903 with a big green candle and it is still trading with an increasing bullish bias. I expect this week’s candle to close bullish, however, next week my expectation is a momentum to the lower side; this anticipated | Technical observation The pair on the chart above retraced to a zone 1.3281-1.3291 but could not break below it, price bounced within the same zone and since then it has been trading with an increasing bullish momentum. I expect this upwards movement to continue to the line 1.3430 followed by a c | Technical observation USD is trading above a supportive zone 103.93-103.93 with an increasing bearish momentum; I expect either a bounce within the zone for a momentum to the lower side, or a clear breakout below it with a big red candle. My advice remain flat temporarily and wait for a loss of th |
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