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.

2023	EURUSD	GBPUSD	USDJPY
18 Agustus	We are bearish towards 1.0670. Technical observation EUR has been trading with an increasing bearish bias for the past three consecutive days and today I anticipate a further surge to the lower side, if you are holding short positions with this pair, I recommend that you remain in the trade with your take profit at 1.0670 and s Lebih	We are expecting a rally towards 1.3610. Technical observation GBP pulled back to the supportive zone 1.2669-1.2609 for a second time but did not break below it, instead it bounced within this zone and since then it has been trading with an increasing bullish bias, today I expect a further surge to the upper side and in case you already Lebih	We are long towards 151.97. Technical observation The value of the pair on the chart above has been trading with an increasing bullish bias for the past three consecutive days and today I anticipate a further rally to the upper side. If you are holding bullish positions with this pair, remain in the trade with your take prof Lebih
17 Agustus	We are short towards 1.0832.	Expecting a rally towards 1.2991	Wait for a second correction to the zone 145.08-145.25
16 Agustus	We are short towards 1.0632	Wait	We are bullish towards 151.83.
15 Agustus	We are bearish towards 1.0666	Expecting a momentum towards 1.3610	Remain long
14 Agustus	Remain short	Buy GBP within the zone 1.2617-1.2590	Wait for a correction to the zone 138.20-137.70

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Technical Analysis Based on Breakout

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