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
04 Oktober	Resell EURUSD from 1.09954. Technical Observation Eurusd pulled back to the upper side and even hit the 50.0% fib level, 1.09954. This was a good sell place, but if your did not pick this sell around 1.9954, then you can resell EURUSD from 61.4% fib level, 1.09740, or in case the price breaks below 76.4% fib level, 1.09475 th Lebih	Sell a bounce from eirther 1.23890, or 1.24257. Technical Observation Just as we mentioned few days ago, GBPUSD retraced massively to the upperside and even hit the 61.4% fib level but could not reach the 50.0% fib level. According to the hourly chart attached, the best place to sell this pair is if the price bounces off from the 50.0% fib level Lebih	Resell USDJPY from 106.958. Technical Observertion USDJPY is in an active downtrend. Yesterday, This pair sustained the break below the daily low 106.958 and is still below this line. I expect further momentum to the lowerside towards 106.545. On this chart overall, the best levels to wait for price from include 106.145, 106. Lebih
03 Oktober	Sell a retracement back towards 1.09475.	Sell a break below 1.22701.	Wait
02 Oktober	Wait	Sell a break belpw 1.2216.	Sell a retracement back towards the 50.0% fib level.
01 Oktober	Sell EURUSD at 1.9047.	Sell GBPUSD from 1.23435.	Buy USDJPY from 108.117. with your take profit at 108.475.
30 September	Wait and sell a bounce from 76.4% fib level or wait and sell a bounce from 50.0% fib level.	Wait for a retracement back towards the 50.0% fib level to sell GBPUSD.	Wait and buy a bounce from 107.716.

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Technical Analysis Based on Breakout

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