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
17 November	Wait for a retracement to the zone 1.1210-1.1155 Technical observation On the chart above the value of EUR declined to a level 1.0505 then bounced at it and it is currently trading with an increasing bullish bias, next week I anticipate a further surge to the upper side to the resistance zone 1.1210-1.1155 followed by either a rejection within i Lebih	Remain flat Technical observation Just like EUR, GBP declined to a level 1.2122 then bounced at it and it is currently retracing to the upper side. I recommend that you remain neutral and wait for a correction to the level 1.3108 to re-sell GBP with your take profit at 1.2122 and stop-loss at 1.3678. If there Lebih	we are neutral Technical observation This week the value of the pair above opens bearish and it is still trading with an increasing bearish bias, this downwards movement is a correction to the supportive zone 127.88-126.95 and I expect a bounce within it to re-buy this pair with my take profit at 151.57 and stop Lebih
16 November	we are long	Remain bullish	Wait
15 November	Wait for a correction to buy EUR.	Wait for a correction to the 1.2436-1.2415	we are flat
14 November	Expecting a rally towards 1.1277	we are long	Wait
13 November	We are short	Remain bearish	Remain long

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Technical Analysis Based on Breakout

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