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.

2020	EURUSD	GBPUSD	USDJPY
02 Oktober	We're short Technical observation EUR has been stagnating within a resistance zone it established around 1.1744-1.11715, currently price is still trading with an increasing bearish momentum within the same zone and I expect this bearish movement to continue to the supportive level 1.1453 followed by a clear b Lebih	Remain short Technical observation Yesterday GBP bounce within the resistance zone 1.3006-1.2970 then rallied downwards. I expect this bearish movement to continue to the supportive line 1.2626 followed by a clear breakout below it with a big red candle. My advice, if you sold GBP within the zone mentioned abo Lebih	Buy USD within 105.22-105.16 Technical observation USD declined with a big red candle penetrating below the supportive zone 105.22-105.16 with a big red tail, however, this pair closed above the zone and you can still anticipate bullish movements towards the resistance line 106.16. My advice, buy USD within the zone mentione Lebih
01 Oktober	We're short towards 1.1453	Sell a bounce within 1.3006-1.2970	We're neutral
30 September	Sell EUR within 1.1744-1.1715	We're short towards 1.2626	Wait
29 September	Sell a bounce within 1.1744-1.1715	Sell GBP within 1.3006-1.2970	Still bullish towards 106.16
28 September	Wait	Wait for a retracement	We're long towards 106.15

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Technical Analysis Based on Breakout

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