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
21 Juli	We are neutral Technical observation On the daily chart above, EUR rose above the zone 1.1048-1.1075 and it is currently trading with an increasing bearish bias, this downwards movement is a correction to the zone I have indicated above and I anticipate a possible rejection within followed by a surge to the uppe Lebih	Wait for a correction to buy GBP Technical observation GBP has been trading with an increasing bearish bias with the past five consecutive candles and today I expect the value of this pair to descend further towards the supportive zone 1.2669-1.2609 followed by either a rejection within it or a clear break below it with a big red Lebih	We are bullish towards 151.97. Technical observation USD pulled back to the supportive zone it established at 138.75-138.22 for a second time then bounced within it and since then it has been trading with an increasing bullish bias. Today I expect a further surge to the upper side and if you already bought this pair, I recommen Lebih
20 Juli	We are flat	Wait for a pullback to the level 1.2847	Remain long
19 Juli	Remain neutral with EUR	Wait for a correction to buy GBP	Remain long
18 Juli	Looking to sell EUR within the zone 1.1467-1.1415	Wait	Wait for a retracement to the zone 128.11-127.08
17 Juli	We are flat	We are flat	Wait for a pullback to the zone 138.75-138.22

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Technical Analysis Based on Breakout

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