Night Trade Review
GBPUSD Breakout for Short, Long and Aggressive trade failed to enter setup.
Breakout for Short was invalid, signal a false breakout. Experience trader will use the minimum stop loss 28 pips to entry at the second low price for a Long Trade.
EURUSD Breakout for Short and Long failed to enter setup.
Aggressive trade executed, win profit around 40 pips.
After several attempts failed to break the “Breakout for Short”, the price trends up again. Now we can confirm this is false breakout signal. Experience trader will use the same style as GBPUSD to go for a Long trade.
Day traders need Volatility (measure of the expected daily price range) to operate daily. The ability of Day Trader Analyst is depending on how accurate and precise to estimate the low point and high point within the range itself.
Yesterday both currency pairs are traded in narrow range; forecast the signal of thunder rain is coming. Since weekend is coming, today the market will moving faster than previous day.
Recommend strategy: "Sell High" + "Buy Low" by using the least stop loss to earn the most target profit.
GBPUSD - Breakout Strategy
Long - EP{1.5138}, SL {1.5111}, TP- 1.5233
Short - EP {1.5041}, SL {1.5079}, TP – 1.4948
EURUSD - Breakout Strategy
Long - EP{1.3778}, SL {1.3751}, TP- 1.3883.
Short - EP {1.3671}, SL {1.3709}, TP- 1.3568
Take Note:
1. To prevent false breakout, the price must broken through EP at least 10~15 pips and retrace back to EP before enter trade.
2. If hits SL, wait for retracement of 10-20 pips {low risk trader waits for retrace and break SL price again} to enter opposite trade.
After 17:30 {GMT +8:00 Singapore} the market trends up but failed to break
GBPUSD{1.5138}, EURUSD{1.3778}
Waiting for the direction to reverse and trends down before enter a Short trade, SL is 28 pips away from EP.
After 17:30 the market trends down but failed to break Breakout for Short or false breakout
Waiting for the direction to reverse and trends up before enter a Long trade, SL is 28 pips away from EP.
Aggresive trader
GBPUSD Sell - EP “1.5100”,
EURUSD Sell - EP “1.3740”,
When the market is no longer going upward instead it reversed downward, now it is time to enter [color=Blue]Short[/color] trade, SL is 38 pips away from EP.
Take Note:
3. Aggressive trader: As long the condition for entry is fulfilled, EP can be plus or minus 20 pips
4. The preference to enter market: “Aggressive trader” strategy will be the first choice, breakout for Long/Short will be second choice.
Buy Low trader pays attention to the major line of
GBPUSD {1.4900 - 1.4950}, EURUSD {1.3580 – 1.3530}.
If the price is unable to breakout, enter Long trade with SL of 10-20, take profit after price retraced.
Subscribe to:
Post Comments (Atom)
0 comments
Post a Comment