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
11 Agustus	Remain short Technical observation On the chart above the price pulled back to the resistance zone 1.1245-1.1196 then bounced within it and since the it has been trading with an increasing bearish bias, today I expect a further surge to the lower side and in case you are holding short positions with this pair Lebih	Expecting a momentum towards 1.3610.. Technical observation Yesterday GBP retraced to zone 1.2669-1.2609 but could not penetrate below it, instead it was sustained above this zone and it is currently trading with an increasing bullish bias. Today I expect a further momentum to the upper side and if you picked bullish within the zone I Lebih	Remain bullish Technical observation Since it bounced within the supportive zone 138.75-138.22, USD has been trading with an increasing bullish bias and today I anticipate a further surge to the upper side, if you bought USD within the zone I mentioned above, remain in the trade with your take profit at 151.97 an Lebih
10 Agustus	Wait	Remain short	Wait for a correction to the zone 141.59-141.47
09 Agustus	Remain short with your take profit at 1.0680.	Remain long towards 1.3610.	Anticipating bullish movements towards 151.97
08 Agustus	Expecting a surge towards 1.0708	Wait for a correction to the zone 1.4137-1.4250	Remain long with your take profit at 151.83.
07 Agustus	We are bearish towards 1.0743.	Remain long	Remain bullish

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Technical Analysis Based on Breakout

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