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
25 September	Sell a bounce within 1.1750-1.1713 Technical observation EUR is retracing to the resistance zone 1.1750-1.1713, I expect a bounce of this upwards movements within the above-mentioned zone confirming possible bearish rally towards the supportive line 1.1453. My advice, wait for a rejection of price within the zone 1.1750-1.1713 to s Lebih	Wait for a pullback to sell GBP Technical observation GBP did not break below the line 1.2631; instead, it bounced at it and is currently trading with an increasing bullish momentum above the same line. Expect this bullish movement to continue to the resistance zone 1.3006-1.2970 followed by a rejection within it to re-sell GBP Lebih	Remain long Technical observation USD retraced to the zone105.22-105.16 it had recently broke above and it bounced within it. Price was contained within the zone and is currently trading with an increasing bullish momentum. I expect this upwards movement to continue to the resistance line 104.46 followed by Lebih
24 September	We're flat	Pick your profits at 1.2635	Remain flat
23 September	Wait for a pullback to sell EUR	Bearish towards 1.2626	We're short towards 104.11
22 September	Remain short towards 1.1734.	We're bearish towards 1.2626	Remain neutral
21 September	We're long	Remain long	Remain flat

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Technical Analysis Based on Breakout

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