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.

2021	EURUSD	GBPUSD	USDJPY
24 Desember	We are bearish towards 1.1228 Technical observation EUR is trading with an increasing bearish bias below the supportive level 1.1368-1.1359, I expect either a continuation of this downwards movement to the supportive level 1.1228, or a loss of it followed by bullish movements to the zone mentioned above and a clear breakout ab Lebih	we are flat Technical observation Yesterday GBP did not decline as I had predicted, instead price went up and broke above the resistance zone 1.3361-1.3352, it then continued to rally upwards triggering our stop loss. Currently this pair is trading with an increasing bullish bias between the zone mentioned abo Lebih	we are neutral Technical observation On the 4 hour chart above, price broke above the zone 113.84-113.75 with a big green candle and since then it has been rising steadily towards the resistance level 114.75. I expect a loss of this upwards movement at the same level followed by a correction to the above mentione Lebih
23 Desember	Remain flat temporarily	Sell GBP now within the zone 1.3363-1.3352	We are bullish towards 115.51
22 Desember	Looking to sell within 1.1372-1.1354	we are neutral	Wait for a correction to sell USD
21 Desember	we are flat temporarily	Wait	Expecting a bullish movements to the level 115.41
20 Desember	we are short towards 1.1193	Remain short and pick your profits at 1.3194	expecting a rally towards 112.73

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Technical Analysis Based on Breakout

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