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.

2023	EURUSD	GBPUSD	USDJPY
05 Mei		Looking to sell within the zone 1.2669-1.2609 Technical observation GBP is trading with an increasing bullish bias below the resistance zone 1.2669-1.2609 and I expect a loss of this upwards movement within the same zone followed by a surge to the lower side. Right now, I recommend you sell a bounce within the zone indicated above with your t Lebih	Remain short with your take profit at 126.78. Technical observation USD bounced within the zone 138.67-137.9 and since then it has been trading with an increasing bearish bias, today I expect a further surge to the lower side and if you are already holding short positions with this pair, I recommend you remain in the trade with your take prof Lebih
04 Mei	Wait	Wait for a correction to the zone 1.2206-1.2186	Remain short
03 Mei	We are short towards 1.0319	Sell GBP within the zone 1.2669-1.2609	Remain short with your take profit at 126.78.
02 Mei	We are bearish towards 0.9532	Expecting a rally towards 1.0368	Remain long
01 Mei	We are neutral		Wait for a correction to the zone 134.7-134.89

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Technical Analysis Based on Breakout

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