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.

2017	EURUSD	GBPUSD	USDJPY
21 Abril	Long Euro towards 1.0770 Technical Observation: Recently, the price retraced for the second time to the just broken retracement zone 1.0709-1.0677. From the above 4Hour chart, a long position is looming. Unless this equilibrium zone is clear breached to the lower side, that is below 1.0677, I'm long towards 1.0770. I w Mais	Long from 1.2722 towards 1.3489 Technical Observation: Recently, after breaking above 1.2774, GBP is still retracing towards my pending buy limit line 1.2723. From the daily chart shown above, the intraday trend bearish, but rather than going short, I will re-buy this pair should the price retrace back towards 1.2723. with th Mais	Go long towards 109.68 Technical Observation: Recently, US Dollar successfully broke above 109. and has just retraced to the just broken retracement equilibrium zone. From the 4 Hour point of view, a long position is imminent. My advice therefore, go long but have your ST below the recent lowest low, 108.65 and a TP Mais
20 Abril	Long EUR towards 1.0866	Long GBP towards 1.3489	Short USD from 109.17
19 Abril	Successful breakout above 1.06800	A break above 1.2775	Place A sell limit order at 109.17
18 Abril	Long Euro above 1.06800	Long GBP Towards 1.29	Watch for sell opportunities

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Technical Analysis Based on Breakout

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