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
25 Juni	Remain flat Technical observation This week I expected a momentum of price to the supportive zone 1.1605-1.1571, however, price rose with a big green candle and I expect this week’s candle to close bullish. Despite this upwards movement I still anticipate a retracement to the supportive zone I have men Lebih	Expecting a rally to the level 1.4615 Technical observation Since it bounced above the supportive zone 1.3661-1.3599, GBP has been trading with an increasing bullish bias and I expect this upwards movement to continue to the resistance level 1.4615 followed by either a clear penetration above it with a big green candle or a rejection Lebih	Wait Technical observation For two consecutive weeks now USD went up and is still showing signs of rising to the resistance level 114.54. Right now price is trading between a supportive zone 104.74-104.22 and a resistance level 114.53 and as long as it is between the two levels remaining neutral is id Lebih
24 Juni	Remain short	We're short towards 1.3811	Remain flat
23 Juni	Wait	Expect a momentum towards 1.4615.	Remain flat
22 Juni	Wait for a correction to sell EUR	we're bearish towards 1.3797	We're neutral
21 Juni	Wait	We're neutral	Wait for a retracement to 108.15-107.94

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Technical Analysis Based on Breakout

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