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.
2023 | EURUSD | GBPUSD | USDJPY |
07 tháng tư | Technical observation On the chart above the price bounced within the zone 1.0985-1.0953 then declined with a big red candle and as long as it is sustained below the zone I have mentioned above, I expect a continuation of this downwards movement. If you sold a bounce within the zone indicated above | Technical observation GBP is pulling back to the resistance zone it established at 1.2630-1.2528 and I expect either a rejection within this zone or a clear break above with a big green candle. My advice, if there is a bounce within the zone 1.2630-1.2528; sell this pair within the same zone with | Technical observation This week USD has been trading with an increasing bearish bias and I expect it to close bearish. This downwards movement is a pullback to the resistance zone 126.23-127.27 and next week I anticipate a further momentum to the same zone followed by a possible bounce within it. |
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