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.
| 23 - 27 October |
weekly
forecast 23 - 27
October Gold preparing to continue long Technical Observation Recently, Gold dropped in price but is still above the key daily support zone 1083.2-1080.48, unless there's a clear bearish break below this zone, I'm waiting for a rejection from this zone to buy Gold with an ultimate take profit at 1124.37 | ||
| 2017 | EURUSD | GBPUSD | USDJPY |
| 27 October | Technical Observation: Eur continues to plummet and is slowly getting below 1.1698. If the price can close below 1.1698 by the end of today, I expect further drop in price towards 1.1481, where I'll be looking for a long position towards 1.3138. However, if the price close above 1.1698, then I'll b | Technical Observation: Gbp continues to drop in price despite my previous analysis that it could rise upwards. I expect this downward rally to be a retracement rally towards 1.3138 where I'll be looking to re-buy Gbp with my take profit at 1.3665 and stop loss below the red dotted line, 1.3066. If | Technical Observation: Usd is currently trading above its daily pivot line 114.35 but is still below the resistance line 114.38. Usd is still below a sell line, and unless the price clearly breaks above 114.38, I'm waiting for rejection from 114.38 to short Usd with my take profit at 108.25. On the |
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