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.

2019	EURUSD	GBPUSD	USDJPY
20 Desember	Sell EURUSD towards 1.09290. Technical Observation EURUSD is currently below the supportive zone 1.11725-1.11415. While the price contained below this zone, I expect further momentum to the lower side and should break below 1.09290 towards 1.08530. This bearish price rally is the supported by the fact that the price below the Lebih	Sell GBPUSD with your take profit at 1.27. Technical Observation According to the chart attached, GBPUSD declined steeply and even went below the 50.0% fib level, this is in line with what we forecasted few days ago, now that the price is below 76.4% fib level, I expect further momentum to the lower side and should break below 1.2895 or ev Lebih	Wait for a resell from 109.401. Technical Observation USDJPY is current in an active down trend. While the price is contained below these two simple moving averages and also below the resistance level 109.401, I expect further momentum to the lower side and should break below 109.155 towards 108.585. On its way to the lowerside, Lebih
19 Desember	Sell EURUSD with your take profit at 50.0% fib level.	Sell GBPUSD towards 50.0% fib level.	Buy a break above 109.66.
18 Desember	Buy EURUSD now with your take profit at 1.1185.	Wait	Buy a break above 109.68.
17 Desember	Wait for a possible rebuy from around 1.1107-1.1115 with your take profit at 1.1199.	Wait for a bounce from 1.3205.	Wait
16 Desember	Remain long with your take profit at 1.1195.	Remain long, or wait for a correction to pick a buy towards 1.3525.	Buy USDJPY with your take profit at 109.95.

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Technical Analysis Based on Breakout

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