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 |
29 tháng tư | Technical Observation EUR did not rise as I had expected but instead declined for some time up to the level 1.0481. Currently price is trading with an increasing bearish bias above the level mentioned above however I still expect a correction to the resistance zone 1.0785-1.0769 and a rejection wit | Technical observation Just like EUR, yesterday GBP rallied with an increasing bearish momentum below a level 1.2721 and right now price is trading between the same line and a supportive level 1.2099. My expectation is a correction to the resistance level 1.2721 followed by a rejection at it to pic | Technical observation On the hourly chart above, yesterday price rose as I had anticipated and hit my take profit at 129.31 then broke above it with a big green candle before surging further upwards to the level 131.24 where it faced rejected and for some time now the value of the pair above has be |
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