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 September	Remain short Technical observation EUR has been trading with an increasing bearish bias since it bounced within the resistance level 1.0817-1.0803 and today I expect it to plunge even further. My advice, if you are already holding short positions, I recommend that you remain in the trade with your take profit Lebih	We are expecting a momentum towards 1.2235. Technical observation GBP has been trading with an increasing bearish bias for several days now and it is still rallying downwards slightly above the level 1.2235, today I expect a decline to the level indicated above followed by a possible rejection at it; if you are already holding short position Lebih	we are bullish toward 151.92. Technical observation USD has been trading with an increasing bullish bias since it bounced within the supportive zone it established at 144.68-144.36, in case you already picked bullish positions; I recommend that you remain in the trade with your take profit at 151.92 and stop-loss at 142.83. If Lebih
21 September	Remain short	Wait for a correction to the zone 1.4137-1.4250	Remain bullish
20 September	Wait	We are flat	We are long towards 151.97.
19 September	Wait		We are short towards 1.2197.
18 September	Wait	Wait for a pullback to the zone 1.2635-1.2571	Remain long

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Technical Analysis Based on Breakout

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