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
07 Mei	we are bullish towards 1.2248. Technical observation In the beginning of the week, I expected the value of this pair to decline towards the trend line indicated on the weekly chart above, however, price changed momentum and is currently trading with an increasing bullish bias. I expect this bullish movement to continue to the Lebih	Remain long Technical observation GBP is still trading with an increasing bullish bias above a support zone 1.3661-1.3599 and as long as price contained above this is zone, I expect it to surge to the upper side to the key level 1.4615. If you picked long positions within the zone 1.3661-1.3599 after a bounce Lebih	We're flat Technical observation On the weekly chart above, price is trading with an increasing bullish bias above a supportive zone it established at 108.08-107.78. My expectation is a loss of this bearish movement within the zone for a possible rally to the upper side; however, price can still break below Lebih
06 Mei	Expect a rally towards 1.2111	Wait	We are long towards 110.96
05 Mei	We're flat	Remain long	we are bullish towards 115.64
04 Mei	Wait	Wait and buy a rejection from the lower trendline.	Buy USDJPY towards 111.483.
03 Mei		Buy a rejection from 1.37803 towards 1.42358.	Remain long

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Technical Analysis Based on Breakout

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