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 |
| 20 April | Technical observations Yesterday,EUR went down as predicted and is currently rallying down towards the key line 1.2316,I expect either a breakout below the line or a correction to the zone (1.2386-1.2379).If price corrects to the zone wait for a rejection within the zone to sell EUR towards the l | Technical observation As I predicted yesterday,GBPUSD went down and even broke below the lower key line 1.4143,currentlt it is rallying below the broken line and I expect a correction to it and a rejection of price for a possible bearish move towards the lower key line 1.3987,I would advise you w | Technical observation On the daily chart above,USDJPY retraced at a key zone( 107.91-107.70) thrice before moving down, currently price is within the zone and I expect a rejection of it within it for a possible bearish move towards the key line 104.64,I would advise you wait for a close within t |
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