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 |
| 28 September | Technical observation The pair on the daily chart above is correcting to the resistance zone 1.1853-1.1824 and I expect nothing but a bounce of it within the zone for possible bearish momentum towards the support 1.1344, or, a clear breakout above the zone with a big green candle followed by a corre | Technical observation GBP/USD is pulling back to the resistance zone 1.3315-1.3281,I expect nothing but either a rejection of price within the zone for possible bearish momentum towards 1.2693, or a clear breakout above it with a big green candle followed by a correction to it for possible bullish m | Technical observation USD/JPY is still rallying above the zone 111.95-111.83.I expect a correction of price to it followed by a rejection of it within the above mentioned zone for possible bullish momentum towards 114.14.Wait for the correction to the zone then buy USD/JPY within it after a rejectio |
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