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.

2022	EURUSD	GBPUSD	USDJPY
12 Agustus	We are neutral. Technical observation This week the value of the pair on the weekly chart above opened bullish and since then it has been trading with an increasing bullish bias and I expect it to close the same. Next week I expect a further surge to the upper side towards the resistance zone 1.0742-1.0696 and I Lebih	Wait for a correction to sell GBP Technical observation GBP continues to trade with an increasing bullish bias between the supportive level 1.1410 and the resistance zone 1.2579-1.2623, this upwards movement is a correction to the zone I have mentioned above and I expect price to ascend and bounce within it. Right now as it is on Lebih	Remain flat. Technical observation On the weekly chart above price opened red and throughout the week it has been trading with an increasing bearish bias, my expectation is a continuation of this downwards movement towards the supportive zone 126.94-126.28 followed by a bounce within it to pick long positions w Lebih
11 Agustus	Remain flat.	Expecting a rally to 1.1758	we are flat
10 Agustus	We are neutral.	We are short towards 1.1410	Wait
09 Agustus	Wait for a correction to the zone 1.0622-1.0985	Expecting GBP to plummet towards 1.1775	Remain neutral.
08 Agustus	we are bearish towards 0.9990	we are flat	Expecting a surge to 138.99

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Technical Analysis Based on Breakout

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