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
26 November	Wait Technical observation Last week EUR went down with a big red candle same as this week it has been declining further and expect it to close bearish. Next week I expect possible bullish movements to the zone 1.1511-1.1469 followed by a rejection it. However, I would advise that you wait for a second Lebih	we are flat Technical observation GBP declined and broke below a supportive zone 1.3445-1.3383 with a big red candle and it is still showing signs of declining even further. However, I expect a retracement to the broken zone followed by a rejection within it and a clear momentum to the lower side. My advice, Lebih	Wait for a retracement to the zone 114.28-114.01 to buy Technical observation The pair on the weekly chart above rose and broke above a resistance zone 114.28-114.01 with a big green candle, it is still trading with an increasing bullish above the zone however, despite this upwards movement I expect a bearish rally to the just broken zone followed by a Lebih
25 November	Wait for a pullback to the zone 1.1370-1.1379	Wait	Wait for a correction to the level 115.9
24 November	Wait for a correction to sell EUR	we are flat	Remain flat
23 November	Looking to sell within 1.1288-1.1284	we are flat temporarily	Wait for a correction to the level 114.46
22 November	Remain flat	Wait	Looking to sell within 114.05-114.02

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Technical Analysis Based on Breakout

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