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
13 Januari	We are flat Technical observation EUR has been trading with an increasing bullish bias for the past two consecutive days and today I expect a continuation of this upwards movement towards the resistance level 1.1123, at this level, I expect either a clear break above it with a big green candle, or a rejection Lebih	Expecting a pullback to the zone 1.1690-1.1623 Technical observation GBP trading with an increasing bullish bias between the supportive zone 1.1690-1.1623 and a resistance level 1.2650, my expectation is a loss of this upwards movement followed by a correction to the zone indicated above. Right now as it is on the chart above, I recommend tha Lebih	Remain short with your take profit at 126.78. Technical observation USD bounced within the zone 138.97-138.25 and since then it has been trading with an increasing bearish bias, today, I expect a continuation of this downwards movement and in case you are currently holding short positions with the pair above, I recommend that you remain in th Lebih
12 Januari	Remain long with your take profit at 1.0776.	We are neutral	Remain flat
11 Januari	We are neutral	Wait for a pullback to buy GB	Remain short with your take profit at 126.78
10 Januari	Sell a bounce within the zone 1.0759-1.0696	Remain neutral temporarily.	Sell USD within the zone 134.17-133.09
09 Januari	We are flat	Wait for a correction to the zone 1.1690-1.1623	We are short towards 126.78

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Technical Analysis Based on Breakout

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