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 |
17 tháng tư | Technical observation Euro is trading with an increasing bullish momentum between a supportive level 1.0753 and a resistance zone it established around 1.0985-1.0970. I expect either a rise to the resistance zone mentioned above followed by a bounce within it, or a decline to the supportive level | Technical observation GBP is rallying steadily with an increasing bearish bias towards the supportive zone indicated on the chart above around 1.2209-1.2173. My expectation is a rejection of this bearish movement within the zone for possible upwards price rally. Remain flat and wait for a correcti | Technical observation USD corrected to the resistance zone 107.99-107.86 and it was contained below it. Currently price is trading with an increasing bearish momentum and I expect this bearish rally to continue towards the support 104.96 followed by a clear breakout below it. Within the zone 107.9 |
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