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
10 Desember	Wait Technical observation On the weekly chart above, price has been trading with an increasing bearish bias below the resistance zone 1.1511-1.1469; however, despite this bearish movement I expect momentum to the zone I have mentioned above and a bounce within it followed by a surge to the lower side. Lebih	Wait for a correction to sell GBP Technical observation GBP broke below a zone 1.3344-1.3292 and since then it has been trading with an increasing bearish bias, however, I expect a correction to the just broken zone followed by a bounce within it to pick short positions with my take profit at 1.2026 and stop loss at 1.3686. As lo Lebih	we are flat Technical observation USD is trading almost between the supportive level 112.60 and the resistance zone 113.88-111.83; my expectation is either a surge to the level 112.60 or a momentum to the upper side followed by a clear breakout above the zone I have mentioned above with a big green candle. I Lebih
09 Desember	We are bullish towards 1.1373.	we are neutral	Expecting a surge to the level 114.29.
08 Desember	Expecting a bullish movements to the level 1.1369	Wait for a correction	Expecting a momentum to the level 112.60
07 Desember	Wait	Remain flat	we are flat
06 Desember	we are flat	Expecting a momentum to the level 1.3194	Wait for a correction to the zone 113.79-113.74

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Technical Analysis Based on Breakout

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