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.
| 29 January - 02 February |
weekly
forecast 29 January - 02
February Brent weekly Technical observation During the previous weeks, Brent had been rallying towards a key resistance line 67.17.recently,Brent broke above the line and retraced to it with a red candle, currently price is it rallying above the line and I expect a correction to it to continue long with | ||
| 2018 | EURUSD | GBPUSD | USDJPY |
| 02 February | Technical observation Price is still rallying above the resistance zone (1.2056-1.2101) highlighted by the blue triangle, on the daily chart attached,EUR looks a bit bearish and could plummet towards the lower trend line acting as the support and I expect a rejection at the 4H support line 1.23 | Technical observation On the daily chart above,GBP is currently retracing to a support line 1.4072 and I expect a possible rejection at the line for a bullish momentum towards 1.4375,in case the pair goes below 1.4072 then i would remain flat and wait for a correction to the lower support line 1. | Technical observation The pair on the daily chart above retraced at a support line 108.29 while on an upward trend, recently price was corrected at the line and is currently rising towards a key resistance zone as indicated by the blue rectangle, I expect a possible rejection of USD at the zone |
| 01 February | |||
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| 29 January | |||
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