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.

2018	EURUSD	GBPUSD	USDJPY
14 September	Bulls are charged Technical observation EUR/USD is still rising towards the resistance zone 1.1872-1.1849 and i expect nothing but a breach above it followed by a correction to it for a further rise in price. I picked long positions at the support 1.1539 and I’m waiting to collect my profits at 1.1849.In case there i Lebih	Wait for a correction Technical observation The pair on the daily chart above did not go down as predicted, instead, a breakout was seen when price broke above the resistance zone 1.3056-1.3025.I expect a correction to the just broken zone followed by a rejection of it within it for possible bullish momentum toward the r Lebih	Wait for a correction to 111.79-111.72 Technical observation The pair on the 4hour chart above broke above a resistance zone 111.79-111.72 with a big green candle before rallying up. Currently price is correcting to the just broken zone and I expect nothing but a rejection of it within the zone for possible bullish momentum towards the Lebih
13 September	We're long	Short within 1.3056-1.3025	Sell within 111.45-111.42
12 September	Buy EUR/USD at 1.1539	Sell within 1.3056-1.3025	Buy within 111.37-111.34
11 September	Remain long	Remain flat temporarily.	Remain flat
10 September	Buy at 1.1539	Remain short	Wait for a correction to 110.70

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Technical Analysis Based on Breakout

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