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
28 April	Wait Technical observation EUR is declining to a trend line as shown on the chart above and I expect either a bounce at the same level or a clear break below it with a big red candle. My advice, if the price is rejected at the level, pick bullish positions at it with your take profit at 1.1095 and sto Lebih	Remain long with your take profit at 1.2541. Technical observation GBP is trading slightly below the resistance level 1.2541 and I expect a rise to the same level followed by either a clear break above it or a rejection of price at it. If you are holding bullish positions with the pair above, remain in the trade and pick your profits at 1.25 Lebih	Sell USD at 135.78 Technical observation USD pulled back to the resistance level 135.78 as I have anticipated and it is still trading with an increasing bullish bias. However, I expect a loss of this upwards movement followed by a possible surge to the lower side, My advice, remain neutral and wait for a bounce at Lebih
27 April	Wait	Wait for a pullback to the zone 1.2190-1.2207	Remain short with your take profit at 127.21.
26 April	We are short within the zone 1.1053-1.0994	Sell GBP within the zone 1.2663-1.2562	Remain long with your take profit at 148.66.
25 April	Sell EUR within the zone 1.1094-1.1048	Looking to sell within the zone 1.2669-1.2609	Wait
24 April	Wait	Wait for a correction to the zone 1.2190-1.2207 to buy GBP.	Remain short with your take profit at 127.21.

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Technical Analysis Based on Breakout

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