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.
2018 | EURUSD | GBPUSD | USDJPY |
26 October | Technical observation After the breach below the support 1.1430, the pair on the 4Hour chart above retraced steadily to the just broken key line but could not penetrate above it and was rejected before moving downwards. I expect a decline to the key line 1.1314 and another retracement to the line 1. | Technical observation GBP/USD is still plummeting to the lower side and my expectation is either a rejection of it at the support 1.2686 or a clear breach below it for further downwards movement of price. If you are already short, remain in the trade and pick your profits at 1.2686 and in case you a | Technical observation For the past days, USD/JPY established a resistance zone at 112.69-112.60 with several retracement to it. Recently price retraced to the above mentioned zone for the fourth time and still could not penetrate above it.I sold USD within the zone and I’m looking to remain in the |
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22 October |