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 |
| 28 February | Technical observation This week EUR has been correcting itself towards the resistance zone 1.1506-1.1457, I expect this upward momentum to continue to the zone followed by a bounce within it for bearish price rally. My advice, wait for a correction to the above-mentioned zone and a bounce within i | Technical observation GBP has been declining steadily towards a supportive zone 1.2785-1.2746, a loss of this bearish momentum can be expected within the zone followed by a either a clear decline below or a rejection within it. If you sold this pair at the key level 1.3334, pick your profits at 1. | Technical observation USD continues to retrace to the supportive zone it established around 109.74-109.62. I expect a clear breakout below this zone with a big red candle followed by a retracement. Remain neutral temporarily and wait for a break below supportive zone 109.74-109.62 followed by a re |
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