Technical Analysis Based on Breakout

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
22 November	Wait for a retracement to the zone 1.0765-1.0751 Technical observation On the chart above, the price has been trading with an increasing bullish bias since it rose above zone 1.0765-1.0751, today I expect a possible surge to the zone I have mentioned above followed by either a rejection within it or a clear break below it with a big red candle. Lebih	Wait Technical observation The pair on the chart above is trading with an increasing bullish bias slightly above the supportive zone 1.2415-1.2395 and today I expect a further surge to the upper side towards the level 1.2817. If there is a rejection of at the level 1.2817, wait for another correction t Lebih	we are long Technical observation USD pulled back to the supportive zone 147.50-147.63 but could not break below it, instead it bounced within it and it is currently trading with an increasing bullish bias, as long as the value of USD is sustained above the zone 147.50-147.63 I expect a further momentum to th Lebih
21 November	Remain long	Wait	Wait for a correction to the zone 137.45-138.04
20 November	Wait	Remain bullish	Wait for a correction to the zone 147.50-147.73

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Technical Analysis Based on Breakout

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