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 Februari	We are bearish towards 1.0461 Technical observation On the chart above price is trading with an increasing bearish bias between the supportive level 1.0461 and a resistance zone 1.0779-1.0706, I expect a continuation of this bearish movement to the supportive level indicated above followed by either a rejection at it or a cle Lebih	Wait for a correction to buy GBP Technical observation GBP is declining towards the supportive zone 1.1774-1.1741 and I expect either a bounce within this zone or a clear penetration below it with a big red candle. My advice, remain neutral and buy a bounce within the zone I have mentioned above with your take profit at 1.2424 an Lebih	Sell USD within 134.91-134.48 Technical observation On the 4 hour chart above price is trading with an increasing bearish bias within the resistance zone 134.91-134.48 and as long as this pair is sustained below the same zone, I expect a continuation of this downwards movement. My advice, pick short positions now within the zo Lebih
23 Februari	Remain flat temporarily.	Anticipating a pullback to the zone 1.1960-1.1623	Looking to sell within 138.25-138.92
22 Februari	Expecting a momentum towards 0.9532	We are short towards 1.0368	We are bullish towards 152.01
21 Februari	We are flat	flat	Expecting a rally to 127.56
20 Februari	Wait for a pullback to the zone 1.0779-1.0706	Remain flat	Remain short towards 127.21.

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Technical Analysis Based on Breakout

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