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.

2017	EURUSD	GBPUSD	USDJPY
21 Juli	Wait for retracements to buy Eur Technical Observations From the weekly point of view, Eur has just broken a key resistance line 1.1459 and unless there's a clear bearish breach below this line, I expect a rise towards 1.2558. However, this position should not be executed just now, instead, conservative traders should wait for a p Lebih	Flat Technical Observations Gbp has crossed below a key daily support line 1.3010 despite my projections that the price would rise towards the weekly resistance line 1.3306. While price is below the now support line 1.3010 I maintain a bearish bias in the short run. However, if price rise above 1.3010 b Lebih	Flat Technical Observations The USDJPY formed a Doji Candle on Thursday, which shows an indecision in the market. If the price can close below the 4 hour support line 111.82 with a big red candle, then I expect Usd to post fresh weekly low today. Ideally, a break below 111.82 may mean the price may plum Lebih
20 Juli	Waiting for a breakout below 1.3512	Gbp Consolidating upwards	Wait for a breakout below the support line 111.82 to short Usd towards 110.75
19 Juli	Wait for pullbacks towards 1.1459	Buy place for position traders	Flats
18 Juli	Waiting for retracements towards 1.1459	Buy Gbp towards 1.3306	Short Usd towards 111.82
17 Juli	Flat	Waiting for a pullback towards 1.3023	Short Usd around 112.94 towards 111.82

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Technical Analysis Based on Breakout

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