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
11 Mei	Remain flat temporarily. Technical observation EUR/USD is still pulling back to the resistance line 1.1990 and I expect a rejection of it from the line for possible bearish momentum towards the support line 1.1739.I would advise you remain flat temporarily and wait for the rejection of price at 1.1990 to sell EUR/USD wit Lebih	Short GBP/USD within 1.3805-1.3753 Technical observation After declining towards the support line 1.3515,GBP/USD could not penetrate below it and was rejected, currently it is rising towards the resistance zone 1.3805-1.3753 and I expect a rejection of it within the zone for bearish momentum towards 1.3515 and a breakout below it Lebih	Buy USD/JPY now Technical observation Yesterday, USDJYP retraced to a support line 109.05,it was rejected and so could not penetrate below it.Right now price is rising towards 111.29 and I expect a breakout above it for a further rise in price towards the resistance line114.34.Im looking to buy USD/JPY now with Lebih
10 Mei	Short EUR around 1.1990	Short GBP/USD within 1.3805-1.3753	Buy USD/JPY around 109.05
09 Mei	Sell EURUSD around 1.1990	Short GBPUSD around 1.3508-1.3753	Short USDJPY now
08 Mei	Looking to sell EURUSD	Remain flat	Remain flat temporarily.
07 Mei	Wait for a correction to 1.2235-1.2192 to sell EUR	Short GBPUSD around 1.3808-1.3699	Buy USDJPY around 107.68-107.30

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Technical Analysis Based on Breakout

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