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 |
| 22 April | Technical observation On the weekly chart above price opened bullish at the beginning of the week and I expect it to close green. I also anticipate a continuation of this upwards movement to the resistance zone 1.1541-1.1495 followed by a rejection within it to re-sell EUR with my take profit stil | Technical observation Since it bounced within the resistance zone 1.3418-1.3355, GBP has been trading with an increasing bullish bias and I expect a continuation of this downwards movement towards the supportive level 1.2020. If you sold this pair within the zone indicated above after a bounce, rem | Technical observation USD has been on a steady upward trend for several weeks now and it is still showing signs of rising even further. I however expect a correction to the level 125.60 followed by a rejection at it to pick long positions with my take profit at 135.20 and stop loss at 122.64. In c |
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