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 |
20 tháng Ba | Technical observation Following a bounce within the resistance zone 1.1499-1.1450, EUR has been declining steadily towards a supportive level 1.0486. This week’s candle is expected to close bearish and further downwards movements can be anticipated next week. If you sold this pair within 1.1499-1. | Technical observation GBP has been declining from last week penetrating below a supportive zone 1.2029-1.1955 with a big red candle. This week’s candle has declined and even broke below the lowest level 1.1516. My expectation is a correction to the just broken line followed by a bounce within it f | Technical observation Yesterday USD did not decline as had been predicted but instead rose and penetrated above the resistance zone 108.18-107.99 with a big green candle before rising to the key level 110.89. I expect a correction to the just broken zone followed by a rejection within it for bulli |
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