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
23 Juli	Wait for a correction Technical observation EUR is trading with an increasing bullish bias above the supportive level 1.1760, I expect this upwards movement to continue to the resistance zone 1.1824-1.1820 followed by a bounce within it for a momentum to the lower side. In case there is a clear breakout below the suppor Lebih	Expecting a rally to the level 1.3570 Technical observation GBP retraced to the resistance zone 1.3774-1.3758 but could not break above it; price bounced within zone and it is currently trading with an increasing bearish bias. I expect this downwards movement to continue to the supportive level 1.3570 followed by either a clear breakou Lebih	Looking to sell within 110.38-110.31 Technical observation USD rose to the resistance zone 110.38-110.31 and it is currently trading with an increasing bullish bias below it; I expect a loss of this bullish movement within the zone followed by a decline to the supportive level 109.62. My advice, remain flat temporarily and sell a boun Lebih
22 Juli	Wait	Waiting for a pullback	Wait
21 Juli	We're flat	Looking to buy within 1.3661-1.3599	Wait
20 Juli	Wait	Looking to sell within 1.3717-1.3686	Expecting a surge towards 108.43
19 Juli	We're flat temporarily	Remain flat	Wait for a correction to 110.75-110.69 to sell USD

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Technical Analysis Based on Breakout

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