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
29 Oktober	Expecting a momentum towards 1.2248 Technical observation EUR has been trading with an increasing bullish bias since it bounced at the supportive zone 1.1520-1.1469, I expect this upwards movement to continue to the resistance level 1.2248 followed by a clear breakout above it with a big green candle, or a rejection at it followed b Lebih	Remain bullish Technical observation Just like EUR, GBP has also been rising steadily above a supportive zone it established at 1.3661-1.3599, I expect a continuation of this upwards movement to the resistance level 1.4615 and at this level there is a possibility of either a clear penetration above it with a big Lebih	Expecting a momentum towards 104.64 Technical observation The current candle on the weekly chart above is trading on a bearish pin bar formation indication a possible momentum to the lower side as I predicted in my previous review on this chart. As it is, as long as USD is sustained below the supportive zone 114.78-114.48, I can only Lebih
28 Oktober	Wait for a correction to 1.1602 to sell EUR	Looking to sell within within 1.3758-1.3749	we are flat
27 Oktober	we are long towards 1.1239	bullish towards 1.4615	Remain flat
26 Oktober	Looking to buy within 1.1619-1.1603	Buy GBP within 1.3758-1.3749	We are bullish towards 114.62
25 Oktober	We are bullish towards 1.2248.	we are long towards 1.3883	Remain short

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Technical Analysis Based on Breakout

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