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 |
| 27 July | Technical observation Instead of rising and breaking above the resistance 1.1744, EUR/USD yesterday went down steadily to the supportive zone 1.1675-1.1667 and broke down below it with a big red candle before proceeding down. Currently it is correcting to the zone and I expect a possible rejection o | Technical, observation GBP/USD is retracing towards the support 1.3076 and I still expect a slight decline in price up to 1.3076.Remain flat temporarily and wait for the correction and rejection of GBP at 1.3076 then long it at the line with your ideal target at 1.3284 and stop loss slightly below 1 | Technical observation Yesterday USD/JPY went up as predicted but could not break above the zone 111.23-110.93, it is now retracing to it and I expect either a rejection of it within the zone for bullish movement of price or a clear breach below the zone with a big red candle for possible bearish mom |
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