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
20 Juli	Wait for a pullback to 1.1742-1.1716 Technical observation EU/USD is still on a downward trend with yesterday’s candle closing as a dodgy candle. I expect a pullback to key resistance zone 1.1742-1.1716 and a rejection of price within it for possible bearish momentum towards 1.1520 followed by a breakout below it for a further decline Lebih	Remain flat temporarily. Technical observation Instead of pulling back to the resistance zone 1.3317-1.3276,GBP/USD yesterday broke down below a support level 1.3050 with a big red candle. I expect a retracement to the just broken level and a rejection of price within it for bearish momentum towards 1.2775.You can remain fl Lebih	Remain flat Technical observation USD/JPY is still pulling back to the just broken zone 111.27-111.07,I expect a rejection of it within the zone for possible bullish movement of price towards the resistance 114.2 and a possible breakout above it.Right now remain flat and wait for the correction to 111.27-111.07 Lebih
19 Juli	Wait for a pullback to 1.1742-1.1716	Wait for a correction to 1.3317-1.3276	Remain flat
18 Juli	Remain short	We're short	Remain flat
17 Juli	Remain flat	Short GBP within 1.3317-1.3276	Remain flat
16 Juli	Wait for a correction to 1.1599-1.1520	Long GBP now	Remain flat

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Technical Analysis Based on Breakout

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