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.
| 2022 | EURUSD | GBPUSD | USDJPY |
| 29 July | Technical observation EUR is trading with an increasing bearish bias above the supportive level it established at 1.0020; however, I expect a loss of this downwards movement followed by a correction to the resistance zone 1.0780-1.0739 to pick short positions with my take profit at the level 1.0020 | Technical observation GBP rose up to the resistance zone 1.2186-1.2165 but could not break above it, instead, it bounced within the zone and is currently trading with an increasing bearish bias, as long as price is sustained below the zone mentioned above, I expect it to plummet towards the support | Technical observation USD retraced to the supportive 134.55-134.28 as I had predicted but could not break below it, instead it bounced within the same zone and it is currently trading with an increasing bullish bias. My expectation is a continuation of this upwards movement to the resistance level |
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