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
23 Juni	We are bearish Technical observation On the chart above the price is trading with an increasing bearish bias below resistance zone 1.1048-1.1015 and today I expect a further surge to the lower side. My advice, if you sold EUR within the zone indicated above; remain short with your take profit at 1.0319 and stop- Lebih	Wait Technical observation GBP rose above a zone 1.2669-1.2609 and it is currently trading with an increasing bearish bias above it. This downwards movement is a correction to the just broken zone and i expect a possible rejection within it, however, I recommend that you wait for a second retracement to Lebih	We are bullish towards 151.97 Technical observation USD broke above the zone 138.75-138.22 then pulled back to it and it was sustained above the same zone, since then the price has been trading with an increasing bullish bias and as long as it is sustained above this zone I expect a further surge to the upper side. My advice, Lebih
22 Juni	We are neutral	Wait	We are long
21 Juni	Remain flat	Wait for a correction to buy GBP	Remain long
20 Juni	We are flat	Wait	Remain long
19 Juni	Remain flat temporarily.	Wait for a correction to the zone 1.2669-1.2609	Remain long

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Technical Analysis Based on Breakout

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