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.
| 2019 | EURUSD | GBPUSD | USDJPY |
| 01 November | Technical Observation So far, even after establishing a swing high around 1.11770, we have not seen any proper retracements on this pair, we expect a possible retracement towards the 5.0% fib level, 1.10, but as it looks, this pair could not reach even 38.2% fib level before reversing, Following t | Technical Observation After establishing a swing high around 1.301, GBPUSD retraced to the lowerside but only up to 23.6% fib level, this level is very significant and while the price remains above it, we expect a possible momentum to the upperside towards 1.30050 and could breakout even higher. O | Technical Observation: After establishing a swing high around 108.275, USDJPY corrected itself to the lowerside and is currently around the 50.0% fib level. This is a good level, and in case the price does not clearly break below it, we'll expect a bounce from it to pick a long term buy order towa |
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