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.
| 2020 | EURUSD | GBPUSD | USDJPY |
| 02 Tháng mười một | Technical Observation Last month's candle closed as a perfect bearish continuation candle. While the price remains below 23.6% fib level, we are looking for long term sell position towards 38.2% fib level. The idea is not to look for sell positions now, rather, wait for price to pullback towards 1 | Technical Observation On this chart, we are looking at the zone 1.28693-1.28897. We are waiting for a bounce from this zone to pick low risk buy position with an ultimate target set around 1.31725. And in case the price breaks and closes below 1.28693, then this will be a good place to consider a p | Technical Observation USDJPY bounced off nicely from the supportive trendline shown above. The Friday's candle is a perfect bullish pin bar candle. On this chart, we are looking forward to buyers controlling this market towards the upper trendline. And in case the price breaks and closes above the |
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