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.
2018 | EURUSD | GBPUSD | USDJPY |
30 Tháng mười một | Technical observation EUR is correcting to a key level 1.1454 and I expect nothing but a bounce at it followed by possible bearish momentum towards 1.1214 and a breakout below it for a further decline in price. Currently I am neutral and waiting for the rejection at the level 1.1214 to re-sell this | Technical observation GBP/USD is rally around a supportive level 1.2696 and my expectation is both a clear penetration below the line followed by a retracement to it for possible bearish momentum, or, a rejection at the level followed by a correction to the key resistance zone 1.3317-1.3271 and a p | Technical observation The pair on the daily chart above established a key supportive zone around 112.14-111.76.Price is currently rallying on increasing bearish momentum towards it and I expect a loss of this movement within the above mentioned zone to pick long position with my ideal target at 114 |
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