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
29 September	Wait Technical observation EUR declined to the supportive level 1.0489 then bounced at it and since then it has been trading with an increasing bullish bias. This upwards movement is a correction to the resistance zone the price established at 1.0770-1.0751 and I expect either a bounce within this zone Lebih	Wait for a pullback to the level 1.2209 Technical observation On the chart above the price is trading with an increasing bullish bias slightly below the resistance level 1.2209, this upwards movement is a pullback to the level I have mentioned above and I anticipate a possible bounce at it. My advice; place a pending sell limit order at Lebih	Expecting bullish momentum towards 151.50 Technical observation USD pulled back to a supportive zone 144.68-144.39 then bounced within it and since then it has been trading with an increasing bullish bias. Today I expect a continuation of this upwards momentum and in case you are holding bullish positions, I recommend that you remain in th Lebih
28 September	Looking to sell at 1.0800	We are flat	Expecting a rally towards 151.97
27 September	we are short	We are neutral	we are long
26 September	We are neutral	Wait for another correction to the zone 1.2587-1.2570	Remain bullish
25 September	Wait	Wait for a correction to the zone 1.2635-1.2571	Remain long

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Technical Analysis Based on Breakout

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