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
16 Juni	Sell EUR within the zone 1.1053-1.0994 Technical observation On the chart above, the price opened bullish and it has been rallying towards the resistance zone 1.1053-1.0994, I expect a possible bounce within this zone followed by a rally to the lower side. My advice, remain flat and wait for a bounce within the zone indicated above to Lebih	Wait Technical observation GBP is trading with an increasing bullish bias slightly below the zone 1.3356-1.3279, this upwards movement is a correction to the zone indicated above and I expect a rejection within it followed by a momentum to the lower side. Right now, I recommend you remain neutral and w Lebih	Remain long Technical observation USD has been trading with an increasing bullish bias for several weeks now and this week it ascended further, if you are holding bullish positions i recommend you remain in the trade with your take profit at 151.83. In case the price penetrates above the level 151.83, wait f Lebih
15 Juni	Remain short towards 1.0666.	Wait	Remain flat.
14 Juni	We are short	Remain bearish	Wait
13 Juni	Remain flat temporarily.	Sell GBP within the zone 1.2575-1.2663	Remain long
12 Juni	We are short	We are flat	Wait for a correction to the zone 137.70-137.91

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Technical Analysis Based on Breakout

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