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
07 Juli	Remain bearish Technical observation EUR retraced to the resistance zone 1.1053-1.0994 but did not break above it, instead it bounced at the same zone and since then it has been trading with an increasing bearish bias. This week the price opened red and I expect it to descend further in the coming weeks. If you Lebih	Wait for a correction to sell GBP Technical observation GBP is retracing to the resistance zone 1.3356-1.3219 and I expect either a rejection within this zone or a clear break above it with a big green candle. My advice, remain flat temporarily and wait for a rise to the zone indicated above then sell a bounce within it with your Lebih	Remain long Technical observation USD bounced within the supportive zone 128.11-127.08 and since then it has been trading with an increasing bullish bias, this week the price rallied further to the upper side and I expect it to close bullish. If you are holding bullish position with USD, remain long and pick Lebih
06 Juli	Remain long	Wait	Wait for a correction to the zone 138.64-138.22
05 Juli	Remain short	Wait for a correction to the zone 1.2669-1.2609	Remain long
04 Juli	Expecting a surge towards 0.9532.	Wait	We're bullish towards 151.83
03 Juli	Remain short	Wait for a pullback to the zone 1.2669-1.2609	We are long towards 151.97

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Technical Analysis Based on Breakout

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