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
03 Desember	we are flat Technical observation Yesterday price did not decline to the supportive level 1.1193 as I had anticipated but instead it consolidated below the supportive zone 1.1382-1.1372 and right now it is showing sings or rallying to the upper side, should this be the case, I expect a rejection of price wit Lebih	we are flat Technical observation On the weekly chart above, price went down below a supportive zone 1.3355-1.3412 with a big red candle, I expect this week’s candle to rally further downwards and close bearish. My advice, remain neutral with this pair and wait for a correction to the zone I have mentioned abo Lebih	Wait Technical observation On the 4 hour chart above, price is trading between a supportive level 112.60 and the resistance zone 113.79-113.74, I expect a continuation of this upwards movement to the zone mentioned above followed by a rejection within it to short this pair with my take profit at 112.60 Lebih
02 Desember	Wait for a pullback to 1.1382-1.1372 sell	Expecting a momentum to the level 104.64	Looking to sell within 113.79-113.74
01 Desember	Expecting a momentum towards 1.1377	Wait for a correction to the zone 1.3356-1.3362 to sell GBP	Wait
30 November	Looking to buy within 1.1267-1.1258	Remain flat temporarily	Pick short positions within 113.82-113.76
29 November	Remain neutral	Looking to sell at 1.3349	Remain flat

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Technical Analysis Based on Breakout

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