GBPUSD EURUSD Night 18 Feb 2010

Posted by GBPUSD 100 On 8:36 PM

Morning Trade Review
GBPUSD Breakout for Long setup is invalid.
Breakout for Short {1.5641} enters setup and profits more than 60 pips.
Aggressive trade {1.5700} enters setup and profit at least 100 pips.

EURUSD Breakout for Long setup is invalid.
Setup of Breakout for Short {1.3551} is fulfilled but no win no lose {if EURUSD cannot break the lowest price after 3 hour, trader should close the trade near EP to observe the market direction before further action}
Aggressive trade {1.3610} is fulfilled and profits at least 30-40 pips.
Hundred Pips Executor successfully accomplished mission.

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

GBPUSD - Strategy for Night
Breakout for Long - EP{ 1.5588, wait for retrace and breakout upward again to buy},
SL { 1.5551}, TP1- 1.5693, TP2- 1.5753, TP3- 1.5813}.
If hits SL, trader should wait for retrace of 10-20 pips {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 {1.5531, wait for retrace and breakout downward again to sell},
SL {1.5569}, TP1 - 1.5428, TP2 - 1.5378, TP3 - 1.5318}
If hits SL, trader should wait for retrace of 10-20 pips {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 23:15 {GMT +8:00 Singapore}, if the market trends down but failed to break EP of Breakout for Short, waiting for the direction to reverse and trends up before enter a Long trade, TP and SL is same as Breakout for Long. If hits SL, trader should wait for retrace of 10-20 pips {low risk trader waits for retrace and break SL price again} to enter opposite trade – sell. The strategy is same as Breakout for Short.

EURUSD - Recommended strategy for Night
Breakout for Long - EP{1.3558, wait for retrace and breakout upward again to buy},
SL {1.3511}, TP1- 1.3653, TP2-1.3703, TP3- 1.3753}.
If hits SL, trader should wait for retrace of 10-20 pips {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 {1.3511, wait for retrace and breakout downward again to sell},
SL {1.3549}, TP1 - 1.3408, TP2 - 1.3358, TP3 - 1.3308.
If hits SL, trader should wait for retrace of 10-20 pips {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 23:15 {GMT +8:00 Singapore}, if the market trends down but failed to break EP of Breakout for Short, waiting for the direction to reverse and trends up before enter a Long trade, TP and SL is same as Breakout for Long. If hits SL, trader should wait for retrace of 10-20 pips {low risk trader waits for retrace and break SL price again} to enter opposite trade – sell. The strategy is same as Breakout for Short.

Aggressive trade
GBPUSD near price of “1.5550”,
EURUSD near price of “1.3530”,
When the market is no longer going downward instead it reversed upward, now it is time to enter Long trade, SL is same as EP of Breakout for Short. (Make sure the market is no longer goes down and reverse first before enter a Long trade.), TP is same as Breakout for Long.
If the trade hits SL, waiting for retrace of 10-20 pips to enter opposite trade – Sell.

Sell High trader pays attention to the major line of
GBPUSD {1.5700, 1.5750}, EURUSD {1.3650.3700}.
If the price is unable to breakout, enter Short trade with SL of 10-20, take profit after market retraces.

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