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 |
| 10 March | Technical observation This week EUR opened bearish and as long as it is sustained below the supportive zone 1.0832-1.0891 I expect a further surge to the lower side. If you picked short positions within the zone I have mentioned above, I recommend that you remain in the trade with your take profit | Technical observation On the weekly chart above the value of GBP has been trading with an increasing bearish bias for the past three consecutive weeks and this week I expect a continuation of this downwards movement. In case you picked short positions within the zone 1.2401-1.2306 after a bounce, | Technical observation USD retraced to the supportive zone 126.23-127.25 but could not break below it, instead it bounced within the zone and since then it has been trading with an increasing bullish bias. This week I expect a continuation of this upwards movement and in case you are currently hol |
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