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 |
02 August | Technical Observation EURUSD is currently trading with an increasing bearish bias momentum. Few days ago, the price went below the supportive zone 1.11228-1.11296 and is still rallying below this line. The break below this zone is a good sigh that the price is heading further to the lowerside,and | Technical Observation GBPUSD is currently trading with an increasing bearish bias momentum. While the price is contained within the contracting wedge formation, we're looking for long term sell orders. Ideally, I'm waiting for a bounce from the upper trendline to look for long term sell orders tow | Technical Observation After bouncing from the upper trendline, the US Dollar continued to the lowerside but could not go below the daily support level 107.152. We're waiting for a clear sign that the price has gone below this support to pick a long term sell order. With this sell position, we expe |
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