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
20 Januari	Sell EUR within 1.0832-1.0740 Technical observation On the chart above price is trading with an increasing bullish bias within the zone 1.0832-1.0740 and I expect it close bullish, however, next week I expect possible movements of price. My advice is, pick short positions within the zone indicated above with your take profit a Lebih	Pick short positions within the zone 1.2278-1.2186 Technical observation The pair above pulled back to the resistance zone it established at 1.2278-1.2186 and this week it rose slightly above the same zone and I expect price to close bullish. Next week I expect a surge to the lower side and I recommend that you pick short positions within the zone Lebih	Wait Technical observation On the weekly chart above USD broke down below a zone 134.17-133.09 and it is currently trading below the same zone with an increasing bullish bias. This upwards movement is a correction to the zone I have mentioned above and I expect a rejection of price within it followed b Lebih
19 Januari	Wait	We are flat	Wait for a pullback to the zone 1.1690-1.1623
18 Januari	Remain short with your take profit at 0.9532.	Looking to sell within 1.2278-1.2186	Wait for a correction to the zone 134.17-133.09
17 Januari	Expecting a pullback to the zone 1.0410-1.0367	We are neutral	Expecting a pullback to the zone 138.92-138.25
16 Januari	Wait	Anticipating a pullback to the zone 1.1744-1.1714	Wait for a pullback to the level 129.84

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Technical Analysis Based on Breakout

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