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
08 Juli	Expecting a correction to the zone 1.0777-1.0740 Technical observation On the daily chart above price declined to the supportive level 1.0153 and currently it is trading at it with an increasing bearish bias, I expect a loss of this bearish movement followed by a correction to the resistance zone 1.0777-1.0740. My advice, remain flat and wait for Lebih	Looking to re-sell within 1.0482-1.0475 Technical observation GBP declined to the supportive level 1.1910 but could not break below it, instead it bounced at the line and today price rose with a big green candle, I expect a continuation of this upwards movement to the resistance zone 1.2656-1.2617 followed by a rejection within it to re- Lebih	Expecting bullish movements of price. Technical observation USD is trading with an increasing bullish bias below the resistance level 136.65, I expect a loss of this upwards movement followed by a surge to the supportive zone 126.81-127.25. My advice, if you are currently holding bullish positions with the pair above, remain in the tr Lebih
07 Juli	we are flat	Remain neutral.	expecting a retracement to the zone 134.46-134.31
06 Juli	we are flat	expecting a correction to 1.2656-1.2617	Expecting a pullback to the zone 131.41-130.79
05 Juli	Expecting a correction to the zone 1.1541-1.1495	Wait for a pullback to re-sell GBP	Wait
04 Juli	Remain flat.	Looking to sell within 1.2383-1.2357	Wait for a correction to buy USD

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Technical Analysis Based on Breakout

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