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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 and commodities. The analysis seeks to highlight potential breakout setups that can result in higher reward.

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.

2019 EURUSD GBPUSD USDJPY
19
Agosto

Technical observation On the 4-hour chart above, EUR is trading below a resistance line 1.1119 on an increasing bullish bias. I expect a loss of this movement at the line followed by a possible surge to the lower side to the supportive level 1.1025. Wait for a correction to 1.1119 and a rejection

Technical observation On the weekly chart above price is rallying above a supportive level 1.2004 on an increasing bearish momentum and I expect either a clear penetration below it with a big red candle or a correction to the resistance line 1.2578. In case of a break below 1.2004 with a big red c

Technical observation A few weeks ago, USD broke below a support 106.77 before retracing to it twice and was contained below it. Currently it is rising steadily towards the same line and I expect a loss of this upward rally at it followed by possible bearish movements towards the key line 104.64.

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