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
10 Agustus	Remain flat. Technical observation EUR/USD went up towards 1.1744-1.1721 but could not reach it, it was rejected then went down 1.1509 but could not penetrate below. Currently price is on a bullish bias but I expect either a correction to 1.1744-1.1721 or a clear breach below 1.1509.In case of a correction to Lebih	Wait for a correction to 1.3009 Technical observation GBP/USD rallied down steadily to 1.2792 instead of moving up. I expect a correction to the just broken line followed by a rejection at it for possible bearish momentum towards 1.2792 and a possible breakout below it too for a further decline in price. Wait for a correction t Lebih	Long USD/JPY within 111.23-110.93 Technical observation Yesterday there was a false breakout below the support zone 111.23-110.93, price pulled back above the zone before breaching below it fully then went up. I expect a rise in it towards 113.62 followed by a breach above it for a further rise in USD. Right now price is within t Lebih
09 Agustus	Remain flat temporarily.	Remain flat	Remain flat
08 Agustus	Wait for a pullback to 1.1744-1.1721	Remain flat temporarily.	Buy USD within 111.23-110.93
07 Agustus	Short EUR within 1.1744-1.1721.	Wait for a correction to 1.3009	Buy USD/JPY within 111.23-110.93
06 Agustus	Buy EUR/USD now	Wait for a correction to 1.3528-1.3406	Remain flat

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Technical Analysis Based on Breakout

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