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
28 Agustus	Wait Technical observation On the daily chart above, price is trading with an increasing bearish momentum above a supportive zone 1.1731-1.1711. I expect this downwards movement to continue to the above-mentioned zone followed by a rejection within it for bullish price rally. My advice, wait for a corr Lebih	Remain flat Technical observation GBP is trading below a resistance line it established around 1.3263 with an increasing bearish rally , I expect this bearish movement to continue to the zone 1.2781-1.2148 followed by a clear bounce within it for a surge to the upper side. My advice, remain neutral and wait Lebih	Wait for a retracement Technical observation USD penetrated a supportive zone 106.19-106.12 with abig red candle but cold not be contained below the same zone. Yesterday price broke above the same zone with abig green candle and is currnetly ralling with an increading bearish momentum. I expect a loss of this bearish r Lebih
27 Agustus	We're long	Remain long towards 1.3255	Wait for a pullback to sell USD
26 Agustus	Remain neutral	Remain flat	Wait for a correction
25 Agustus	Wait	Wait for a retracement	We're flat
24 Agustus	Wait for a correction	We're flat	Wait

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Technical Analysis Based on Breakout

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