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
08 Oktober	Looking to sell within 1.1665-1.1626 Technical observation This week EUR has continued to trade with an increasing bearish bias below the resistance zone 1.1665-1.1626 it recently penetrated below. Despite this bearish movement I expect a correction to the just broken zone followed by a rejection within it to pick short positions with Lebih	Wait for a second retracement to the zone 1.3661-1.3599 to sell GBP Technical observation This week GBP has been trading with an increasing bullish bias towards the resistance zone 1.3661-1.3599, this bullish movement is a retracement to the zone and I expect a rejection within of price within it for a momentum to the lower side, however, price can still break ab Lebih	We are neutral Technical observation The pair on the chart above has been trading with an increasing bullish bias for some time now, this week price has risen steadily with a big green candle and today I still expect it to rise further and even close bullish. Next week I expect the value of this pair to ascend f Lebih
07 Oktober	We're flat	Remain short	Wait
06 Oktober	Wait	Looking to buy within 1.3612-1.3603	Remain long towards 111.95
05 Oktober	Wait for a correction to 1.1667 to sell EUR	we are bearish towards 1.3423	We're long towards 111.95
04 Oktober	Wait for a correction to sell EUR	Looking to sell within 1.3661-1.3599	Wait

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Technical Analysis Based on Breakout

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