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
17 Februari	We are neutral Technical observation On The hourly chart above, price id trading with an increasing bearish bias at the supportive level 1.0631, however, I expect a loss of this downwards movement followed by a correction to the resistance zone 1.0789-1.0797 followed by a rejection within it. My advice, remain n Lebih	Expecting a momentum towards 1.1840 Technical observation GBP is trading with an increasing bearish bias between the supportive level 1.1840 and a resistance zone 1.2104-1.2113, I expect this downwards movement to plummet towards the supportive level 1.1840 followed by either a clear break below it with a big red candle, or a rejecti Lebih	Wait for a correction to the zone 138.10-137.68 Technical observation USD has been trading with an increasing bullish bias for some time now, this upwards movement is a pullback to the resistance zone 138.10-137.68 and I expect a possible rejection of price within it. Right now I recommend that you remain neutral and wait for a correction to th Lebih
16 Februari	Looking to buy within 1.0410-1.0372	We are flat	Wait for a pullback to the zone 138.25-138.97
15 Februari	Expecting a rally towards 1.0630	Wait for a correction to the zone 1.2094-1.2084	We are neutral
14 Februari	Wait	We are neutral	Wait for a correction to the zone 138.97-138.25
13 Februari	We are bearish towards 0.9532.	Expecting a rally towards 1.0368	Sell USD within the zone 134.17-133.09

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Technical Analysis Based on Breakout

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