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
16 Agustus	We're short at 1.11199 Technical observation EUR penetrated below a key level 1.1119 with a big red candle and is currently pulling back to it. I expect a bounce at the line for possible bearish rally towards the key level 1.1025 and a breakout below it too. My advice, wait for a correction to 1.1119 and a rejection at Lebih	We're flat Technical observation On the weekly chart above, price declined for several weeks following the penetration below the supportive level 1.2578, this week however GBP has been rising and I expect it to close bullish, more bullish movements of this pair can be expected next week and the weeks to come Lebih	Sell USD at 106.77 Technical observation Yesterday USD retraced to the resistance level it established around 106.77 and was rejected at it, I expect bearish movements of this pair towards the key level 106.64 followed by a clear penetration below it with a big red candle for a further surge to the lower side. My ad Lebih
14 Agustus	Sell a break below 1.11643 towards 1.11118	Sell a break below 1.20219	Sell a bounce from 106.813 towards 105.266.
13 Agustus	Buy Euro from 1.11490	Buy a bounce from 1.20290-1.19530 with your take profit at 1.24110.	Buy a bounce from within 104.335-104.890 towards 107.650.
12 Agustus	Sell abounce from 1.12494	Sell a break below 1.20219.	Wait for a sell below 105.266.

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Technical Analysis Based on Breakout

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