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
12 Juni	Remain long Technical observation EUR bounced at the supportive level 1.1251 and is currently trading with an increasing bullish momentum towards the key level 1.1484. If you bought this pair at the line 1.1251 after a bounce, remain long with your take profit at 1.1484 and stop loss at 1.1183. Should there b Lebih	We're short Technical observation On the weekly chart above, price rose towards 1.3312-1.3386 but bounced around 1.2714. Currently GBP is trading with an increasing bearish momentum and I expect this week’s candle to close bearish. Next week I expect further bearish movement of this pair towards the supportiv Lebih	Remain flat Technical observation The pair on the weekly chart above is trading with an increasing bearish momentum above a supportive level it established around 104.65. My expectation is a decline to the supportive level followed by a clear breakout below it with a big red candle for further downwards movem Lebih
11 Juni	Remain flat	We're flat temporarily.	Wait
10 Juni	We're bullish towards 1.1484	Wait for a pullback to buy GBP	Wait
09 Juni	Buy EUR at 1.1251	We're long within 1.2626-1.2601	Place a buy order within 107.89-107.98
08 Juni	Wait	Wait for a breakout	Wait for a pullback to 107.89-107.98

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Technical Analysis Based on Breakout

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