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
23 Februari	Buy EUR now Technical observation On the daily chart above,EURUSD retraced to a support zone (1.2241-1.2211) while on an upward trend then moved up to a key line 1.2507.Yesterday while correcting to the zone the pair could not penetrate below the zone and so it was rejected around the zone and not within it. Lebih	Buy GBP now Technical observation The pair on the daily chart above was rejected yesterday around the support zone (1.3941-1.3803) when price could not reach the zone or even penetrate it.I expect possible bullish movement of price towards 1.4263or even a breakout above it for further increase in price, my a Lebih	Wait for correction around (108.03-107.75) Technical observation After the correction of price to the resistance zone (108.03-107.75) it got rejected within the zone then went down yesterday. Currently, the pair is retracing back to the zone and I expect a possible rejection of it within or around the zone for bearish movement of price to Lebih
22 Februari	Re buy EUR around (1.2242-1.2211)	Re buy around (1.3841-1.3803)	Short USD now
21 Februari	Buy EUR around (1.2211-1.2174)	Re buy GBP around (1.3786-1.3738)	Short USD around (108.44-108.12)
20 Februari	Re buy EUR around (1.2211-1.2174)	Re buy around (1.3786-1.3738)	Wait for correction to (109.07-108.50)
19 Februari	Re buy around (1.2219-1.2179)	Sell around (1.4138-1.4081)	Wait for a correction to (108.55-107.74)

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Technical Analysis Based on Breakout

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