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
26 Juni	We're long Technical observation EUR retraced to the supportive zone 1.1216-1.1204 and could not break below it. Price is currently trading with an increasing bullish momentum above the same zone and I expect this movement to continue to the resistance line 1.1349 followed by a clear breakout above it with Lebih	We're flat temporarily Technical observation On the weekly chart above, price is rallying with an increasing bullish bias below a resistance zone it established around 1.2594-1.2516. My expectation is a loss of this upwards movement within the above-mentioned zone for bearish movements of GBP towards the supportive leve Lebih	We're flat Technical observation USD is trading with an increasing bullish bias above a supportive zone 104.96-104.44. I expect either a decline to the supportive zone 104.96-104.44 followed by a clear breakout below it with a big red candle, or, a correction to the resistance zone 115.12-114.35 followed by Lebih
25 Juni	We're flat temporarily	Remain flat	Wait
24 Juni	Remain long	We're neutral	Remain flat
23 Juni	Remain long	We're short	Remain neutral

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Technical Analysis Based on Breakout

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