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
30 April	Wait Technical observation EUR is trading with an increasing bearish bias above a supportive level 1.2111, this bearish movement is a correction to the line mentioned above and I expect a loss of it at the same level for a momentum to the upper side. My advice, buy a bounce at the level 1.2111 with yo Lebih	Wait Technical observation On the hourly chart above, price is trading on the supportive zone 1.3945-1.3939 with an increasing bearish bias. In case of a break below the zone, I anticipate the value of this pair to plummet towards 1.3864; however, if it is sustained above the zone, I expect a momentum Lebih	We're neutral Technical observation USD broke above a zone 108.43-108.35 then retraced to it and it was contained, It then rose for some time and is currently trading with an increasing bearish bias. I expect this downwards movement to continue to the zone I mentioned above followed by a bounce within it to buy Lebih
29 April	We're long towards 1.2341	Remain long	Expect a momentum towards 109.95
28 April	pick your profits at 1.2248	We're bullish	Expect a momentum towards 114.04
27 April	We're flat	Remain bullish	Short USD within 108.37-108.22
26 April	Remain long with your take profit at 1.2341	Expect a rally towards 1.4001	Wait

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Technical Analysis Based on Breakout

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