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 |
| 25 February | Technical observation On the 4 hour chart above, price declined and broke below the supportive zone it established at 1.1248-1.1239 then rallied further downwards. However, it could not break below the supportive level 1.1130 and currently it is trading with an increasing bullish bias. This upward | Technical observation Just like EUR, GBP broke below a supportive zone 1.3511-1.3510 then declined steadily up to the supportive level 1.3356, at this level price sent a long tail below it but closed bullish above the same line. I expect a continuation of this upwards movement to the zone I have m | Technical observation Yesterday, USD declined as I had predicted and even hit our take profit, it then declined for some time and bounced at the level 114.43. Since it bounced at the level 114.41, the price has been trading with an increasing bullish bias and even broke above the zone 115.27-115.23 |
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