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
24 Maret	Looking to sell within the zone 1.0832-1.0891 Technical observation On the weekly chart above the price is trading with an increasing bullish bias within the zone 1.0832-1.0891 and I expect a possible rejection within it followed by a surge to the lower side. My advice, place a pending sell limit order now within the zone 1.0832-1.0891 with y Lebih	Sell GBP within the zone 1.2401-1.2308 Technical observation This week GBP retraced to the resistance zone it established at 1.2401-1.2308 and I expect a rejection within this zone followed by a possible rally to the lower side. I recommend that you pick short positions within the zone I have mentioned above with your take profit at th Lebih	Wait Technical observation USD has been trading with an increasing bearish bias for the past three consecutive weeks and this week it rallied further to the lower side. In the coming week I anticipate a further surge towards the supportive zone 126.23-126.25 followed by a rejection within it. My advice Lebih
23 Maret	Sell EUR within the zone 1.0991-1.0934	Remain neutral temporarily.	We are short towards 126.78.
22 Maret	Remain short with your take profit at 1.0460.	Wait	Wait for a correction to the zone 135.05-134.61
21 Maret	Remain neutral temporarily.	Sell GBP within the zone 1.2365-1.2416	bullish towards 126.78.
20 Maret	Expecting a rally towards 0.9532.	Remain bearish with your take profit at 1.0368.	Remain flat temporarily.

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Technical Analysis Based on Breakout

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