Weekend is coming and next week is Chinese New Year, all The Asia Foreign exchange market will be closed. Hence, we don't advise the traders to keep open position until next week.

Recommend strategy for this morning: "Buy Low" + "Sell High" by using the least stop loss to earn the most target profit.

Sell High trader pays attention to the major resistance line of GBPUSD {1．5800．1．5850}, EURUSD {1．3800．3850}. If the price is unable to breakout the resistance, enter Short trade with SL of 10-20, take profit after market retraces. The market will be volatile today; we advise you don’t keep the trade for too long. Leave the market after take profit.

For low risk trader: In order to prevent false breakout, you shouldn't enter trade without retrace after initial breakout. Flexible during trading, the way of handling will determine the quality of your trade.

GBPUSD - Recommended strategy for Morning
Breakout for Long - EP{1．5651, wait for retrace and breakout upward again to buy}, SL {1．5651}, TP1- 1．5833, TP2- 1．5893, TP3- 1．5943}. If hits SL, trader should wait for retrace of 10-20 pips {to play safe, low risk trader waits for retrace and break SL price again} to enter opposite trade – sell. The strategy is same as Breakout for Short.

Breakout for Short - EP {1．5621, wait for retrace and breakout downward again to buy}, SL {1．5659}, TP1 - 1．5528, TP2 - 1．5478, TP3 - 1．5428. If hits SL, trader should wait for retrace of 10-20 pips {to play safe, low risk trader waits for retrace and break SL price again} to enter opposite trade – buy, the strategy is same as Breakout for Long.

After 17:30 {GMT +8:00 Singapore}, if the market trends down but failed to break the EP of Breakout for Short; we should wait the direction to change and trends up before enter a Long trade, TP and SL is same as the strategy for Breakout for Long. If hits SL, trader should wait for retrace of 10-20 pips {to play safe, low risk trader waits for retrace and break SL price again} to enter opposite trade – Sell, TP and SL is same as the strategy for Breakout for Short.

EURUSD - Recommended strategy for Morning
Breakout for Long - EP{1．3668, wait for retrace and breakout upward again to buy}, SL {1．3631}, TP1- 1．3783, TP2-1．3823, TP3- 1．3883}. If hits SL, trader should wait for retrace of 10-20 pips {to play safe, low risk trader waits for retrace and break SL price again} to enter opposite trade – sell. The strategy is same as Breakout for Short.

Breakout for Short - EP {1．3591, wait for retrace and breakout downward again to buy}, SL {1．3629}, TP1 - 1．350, TP2 - 1．3458, TP3 - 1．3408. If hits SL, trader should wait for retrace of 10-20 pips {to play safe, low risk trader waits for retrace and break SL price again} to enter opposite trade – buy, the strategy is same as Breakout for Long.

After 17:30 {GMT +8:00 Singapore}, if the market trends down but failed to break the EP of Breakout for Short; we should wait the direction to change and trends up before enter a Long trade, TP and SL is same as the strategy for Breakout for Long. If hits SL, trader should wait for retrace of 10-20 pips {to play safe, low risk trader waits for retrace and break SL price again} to enter opposite trade – Sell, TP and SL is same as the strategy for Breakout for Short

Aggresive trader – the one who dare to enter opposite trade after hit SL. GBPUSD near price of “1．5640”, EURUSD near price of “1．3620”, when the market is no longer going upward instead it reversed downward, now it is time to enter Short trade, SL is same as EP of Breakout for Long. (For conservative trader, kindly adjust according to individual ability to take risk. Make sure the market is no longer go up and reverse first before enter a Short trade.), TP is same as Breakout for Short. If the trade hits SL, waiting for retrace of 10-20 pips to enter opposite trade – Buy.

For aggressive trader, bear in mind “When the market is no longer trends down, enter a Long trade after the market changes direction.