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 |
| 19 June | Technical observation EUR did not rise as I had predicted yesterday and instead it declined to the supportive zone 1.1234-1.1210. Today this pair could either bounce within the above-mentioned zone or penetrate below it with a big red candle. In case of a rejection within the zone, you can pick lo | Technical observation GBP penetrated below the zone 1.2497-1.2479 with a big red candle and is currently trading below the zone with an increasing bullish momentum. I expect this bullish rally to continue to the zone 1.2497-1.2479 followed by a rejection within it for a surge to the lower side to | Technical observation On the 4-hour chart above, price is trading between a supportive level 105.99 and a resistance zone 107.97-107.88. My expectation is either a rise to the resistance zone followed by a bounce within it or, a decline to the support followed by a clear breakout below it. In case |
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