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.
2022 | EURUSD | GBPUSD | USDJPY |
16 Tháng Chín | Technical observation On the daily chart above price has been on a steady downwards trend for several days now and I still expect a continuation of this bearish movement towards the supportive level 0.9905. However, price could either break below this line with a big red candle or bounce at it, In | Technical observation GBP declined as I has anticipated and hit my take profit at the level 1.1428, currently price is trading at the level mentioned above and I expect either a clear break below it or a bounce at it. If there is a penetration below this level, wait for a correction and a rejectio | Technical observation USD is trading with an increasing bullish bias below the resistance level 144.81; however, I expect a loss of this upwards movement followed by a correction to the supportive level price established at 140.03. My advice, remain neutral and wait for a correction to the level 1 |
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