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.
| 06 - 10 November |
weekly
forecast 06 - 10
November Bitcoin could pullback soon Technical Observation: After a massive decline in Bitcoin's price seen one and half months ago, this crytocurrency spiked higher and even reached the highers of 7464, but failed to reach 7500 as previously expected. During this week, we expect a slight pullback to th | ||
| 2017 | EURUSD | GBPUSD | USDJPY |
| 10 November | Technical Observation: Earlier this week, Eur pulled back upwards instead of pushing lower towards 1.1481. I'm still flat on this pair pair, but if the price can breakout above 1.1698, then I may consider a buy position towards 1.3138 or even higher. On the other side, if the price descends towards | Technical Observation: Nothing has changed much in this pair since the other day's analysis. I still expect a rise to the upper side, especially while the price is above 1.3138. If the price can breakout below 1.3138 with a big red candle, then further decline in price towards the weekly support li | Technical Observation: Earlier this week, I went short around 114.38, and is still open in this position. My expectation is that the price should continue to plummet towards 111.95 or even lower. If you didn't go short based on the other day;s analysis, you could wait for a rise towards 114.38, the |
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