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
19 April	Remain flat Technical observation On the weekly chart above, price is declining instead of rising as I had predicted in the beginning of the week, I expect this week’s candle to close bearish but i expect a possible retracement to the resistance zone 1.1528-1.1475 next week followed by a bounce within it for Lebih	Wait for a correction to 1.3417-1.3301 to sell GBP. Technical observation Just like EUR , this pair also declined in value instead of correcting to the resistance zone 1.3417-1.3301, I expect a loss of this bearish price rally this week followed by a pullback to the above mentioned zone next week and a rejection within it for a possible surge to th Lebih	Wait for a correction to 111.92-111.75 to buy USD. Technical observation USD is still trading around the supportive zone 111.92-111.75 and i expect a bounce within it for bullish price rally towards the line 114.04 followed by a clear breakout above it with a big green candle for a further rise in price. You can wait for a pull back to 111.92-111. Lebih
18 April	Remain flat	Wait for a correction to re-sell GBP	Remain flat temporarily.
17 April	We're long towards 1.1320	Sell GBP within 1.3069-1.3064	Buy USD within111.92-111.75
16 April	Remain flat temporarily.	We're short within 1.3417-1.3301	Wait for a correction
15 April	Wait for a correction to sell EUR.	Wait for a pullback to 1.3428-1.3308 to sell GBP	Sell USD now within 112.01-111.83

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Technical Analysis Based on Breakout

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