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.
2017 | EURUSD | GBPUSD | USDJPY |
06 Tháng Mười | Technical Observation: During the previous trading day, Eur declined in price but is still above a key support zone 1.1705-1.1672. Unless there's a clear bullish breakout below this support, I expect a rejection from this zone to buy Eur with an ideal take profit fixed at 1.2065. On its way upwards | Technical Observation: Gbp is currently trading slightly below its daily pivot line 1.3159. By closing below 1.3452, Gbp went lower than expected and may continue to plummet even further. That said, unless there's a clear close above 1.3159 and most importantly above 1.3452, I expect a drastic drop | Technical Observation: Usd is still confined with the rectangular formation, not going above 113.18 or below 112.34. I'm patiently waiting for a breakout above 113.18 to long Usd towards 118.00. On the way upwards, the key lines to look for include 114.02, 115.00 and lastly 117.00. If these lines |
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