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.
| 2023 | EURUSD | GBPUSD | USDJPY |
| 14 April | Technical observation On the chart above the price is trading with an increasing bullish bias below the resistance zone 1.1158-1.1116 and I expect a rise to the same zone followed by a rejection within it. My advice, remain neutral temporarily and wait for a bounce within the zone I have mentione | Technical observation GBP is pulling back to the resistance zone 1.2669-1.2609 and I expect a rise to the same zone followed by either a bounce within it or a clear break above it with a big green candle. My advice, remain neutral temporarily and wait for a correction to the zone I have mentioned | Technical observation USD is trading with an increasing bearish bias between the resistance zone 138.67-137.90 and a supportive level 126.78. I expect either a loss of this downwards movement followed by a correction to the zone I have mentioned above, or a continuation of this bearish movement to |
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