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
05 Juli	Remain flat Technical observation On the chart above, price is trading on an increasing bearish momentum above a supportive level 1.1266, previously, EUR penetrated below the line but could not be contained and broke above it again, I expect either a clear penetration below the support with a big red candle fo Lebih	We're flat Technical observation GBP has been declining steadily since it was rejected within the resistance zone 1.2764-1.2738, however, from yesterday this pair has been moving upwards showing signs of retracing to the above mentioned zone. If this pair rises to 1.2764-1.2738 and is rejected within it, re-s Lebih	We're short Technical observation USD is trading below a resistance zone 108.75-108.57 and I expect it to decline towards the key level 106.45 followed by a breakout below it with a big red candle for a further surge to the lower side. If you sold USD within the zone 108.75-108.57 after a bounce, remain shor Lebih
04 Juli	We're flat	Remain short towards 1.2423	Remain short
03 Juli	Remain flat	Remain short	Remain short with your take profit at 106.45
02 Juli	Remain short towards 1.0806.	Remain neutral temporarily.	we're short towards 107.78.
01 Juli	We're short towards 1.0806	We're flat	Flat

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Technical Analysis Based on Breakout

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