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
12 Februari	We're flat Technical observation On the chart above, price is trading with an increasing bearish bias between a supportive level 1.2050 and a resistance zone 1.2182-1.2174, and I expect a decline to the level 1.2050 followed by a bounce at it to pick long positions. My advice, wait for a correction to the le Lebih	We're neutral temporarily Technical observation On the 4-hour chart above, price is trading with an increasing bearish momentum between a resistance line 1.3867 and a supportive line 1.3747, this bearish movement is a retracement to the supportive line and I expect a rejection of it at the same line for a surge to the uppe Lebih	We're short within 104.82-104.79 Technical observation On the hourly chart above, price is trading with an increasing bullish bias within a resistance zone it established at 104.82-104.79. I expect a loss of this bearish movement within the same zone for a surge to the lower side; however, in case price penetrates above the zone Lebih
11 Februari	Expecting a rally towards 1.2766	We're bullish towards 1.4249	We're bearish towards 103.69
10 Februari	We're long	We're still long	We're long within 104.58-104.42
09 Februari	Remain long	Remain bullish	Place a buy order within 104.58-104.42
08 Februari	We're short at 1.2054	Remain neutral	We're long towards 106.08

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Technical Analysis Based on Breakout

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