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
21 Januari	We are neutral Technical observation On the hourly chart above price is trading with an increasing bullish bias between the supportive level 1.1272 and the resistance zone 1.1360-1.1357, I expect a continuation of this upwards movement to the zone mentioned above followed by a bounce within it to re-sell EUR wit Lebih	Expecting a rally to 1.3966 Technical observation GBP retraced to the supportive zone 1.3593-1.3563 with a big red candle but could not break below it and as long as it remains above the same zone I expect price to rise steadily to the resistance level 1.3966. If you picked long positions within the zone 1.3593-1.363 after a Lebih	Wait Technical observation Yesterday the value of this pair declined and closed bearish, today, I expect a further surge to the supportive level 112.73 followed by a bounce at it to buy USD with my take profit at 115.22 and stop loss at 111.29. If price rises and clearly breaks above the zone 115.49-11 Lebih
20 Januari	Wait for a correction to sell EUR	Wait	We are neutral
19 Januari	Remain short	We are long within the zone 1.3435-1.3354	Remain neutral
18 Januari	We are flat temporarily	Pick long positions within the zone 1.3619-1.3607	Looking to sell within 114.71-114.64
17 Januari	Wait for a correction	We are neutral	Buy USD within 114.43-113.91

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Technical Analysis Based on Breakout

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