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
04 Agustus	We are bearish towards 0.9665. Technical observation EUR retraced to the resistance zone 1.1232-1.1183 but did not break above it instead it bounced within the same zone and it has been trading with an increasing bearish bias for the past two consecutive weeks, this week it also opened bearish and I still expect a continuation Lebih	Wait for a correction to the zone 1.4149-1.4241 Technical observation GBP has been trading with an increasing bearish bias for a while now, this downwards movement is a slight surge to the lower side and I expect a loss of it followed by a pulled back to the resistance zone it established at 1.4149-1.4241. My advice, remain flat and wait for a c Lebih	Remain long towards 151.83 Technical observation USD retraced to the supportive zone 128.11-127.08 for a second time then bounced within it and since then it has been trading with an increasing bullish bias. If you are already holding bullish positions with this pair, I recommend that you remain in the trade with your take Lebih
03 Agustus	Remain neutral temporarily.	Place a pending buy limit order within the zone 1.2621-1.2604	Remain long with your take profit at 145.09.
02 Agustus	Remain short	Wait for a correction to buy GBP.	Remain long
01 Agustus	Wait for a retracement to the zone 1.1053-1.1.0994 to buy EUR.	Sell GBP within the zone 1.3356-1.3279	Remain long

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Technical Analysis Based on Breakout

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