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 |
29 Tháng Chín | Technical Observation On the weekly chart, Eur failed to breakout above 1.2116, instead, the price got rejected from this line and is currently retreating to the lower side. This is just a retracement rally to the lower side towards 1.1448. On the way downwards, key a key support line can be seen | Technical Observation Recently, Gbp broke out above 1.3363 with a big green candle, retraced back to it, but could not penetrate below. I'm waiting for a rally to the upper side, then a second retracement to this line to pick a long position with my take profit at 1.4735. As it is, Gbp is bullish a | Technical Observation Usd is currently trading slightly above its daily pivot line 112.59. Unless there's a clear breach below this pivot, I expect a rise towards 118.00. On the way upward, key resistance line can be seen around 113.39, 114.05 and 116.00. If these lines are clearly breached, then a |
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