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
03 Agustus	Wait for a correction to 1.1744-1.1721 Technical observation After days of declining steadily towards the support 1.1509,EUR/USD is now pulling back to the resistance zone 1.1744-1.1721,I expect a rejection of it within the zone for a possible bearish momentum towards 1.1509 and a breach below it for a further decline in price towards 1. Lebih	Wait for a breakout below 1.3009. Technical observation GBP/USD has been declining towards a key support line 1.3009 and is currently at it.I expect either a clear breach below it with a big red candle or a rejection at it followed by a correction to the resistance zone 1.3314-1.3279.If price is rejected at 1.3009 and pulls back to Lebih	Buy USD/JPY within 111.23-110.93 Technical observation Yesterday, USD/JPY pulled back to the support zone 111.23-110.93, it was rejected and could not penetrate below it. Currently it is moving up and I expect a rise towards 113.62 and a possible breakout above it for a further rise in USD.Long the pair within the zone with your id Lebih
02 Agustus	Remain short	Remain flat	Wait for a correction to 111.23-110.93
01 Agustus	We're short	Remain flat	Bulls are charged
31 Juli	Sell eur upon a bounce from 1.175154	Buy gbp on a bounce from 1.30639	Wait
30 Juli	Short towards the lower trendline	Sell Gbp now	Buy USDJPY

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Technical Analysis Based on Breakout

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