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.
| 2023 | EURUSD | GBPUSD | USDJPY |
| 30 June | Technical observation On the chart above the price is trading with an increasing bearish bias above supportive zone 1.0854-1.0844, this downwards movement is a correction to the zone I have mentioned above and I expect either a rejection within the same zone or a clear break below it with a big re | Technical observation GBP is trading with an increasing bearish between the supportive 1.2360-1.2342 and a resistance level 1.2847 this downwards movement is a correction to the zone I have mentioned above and I expect a decline to the same zone followed by a rejection within it. My advice, remain | Technical observation USD rose steadily to the resistance level 145.09 but did not break above it, instead it bounced at the same line and it is currently trading with an increasing bearish bias and today I expect the price to descend further, the anticipated downwards movement is a correction to |
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