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 |
| 14 January | Technical observation EUR is rallying below a resistance zone 1.1537-1.1473, my expectation is a rejection of it within the zone for possible bearish price rally towards the support 1.0789 and a breakout below it for a further decline in price. You can remain flat temporarily and wait for the rej | Technical observation GBP is rallying between a resistance zone 1.3417-1.3308 and a support 1.2142, my expectation is either a correction to the above mentioned zone or a decline to 1.2142 followed by a breakout below it.Remain flat and wait for either a correction to 1.3417-1.3308 or a decline b | Trade recommendation On the weekly chart above price is rallying around a support level marked at 107.79, my expectation is a decline below the level followed by a correction to it confirming possible bearish price rally towards 100.13. You can remain flat and wait for the breakout below the key |
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