Beware of organization manipulate the market to create false breakout today.
Recommend strategy for this morning: "Sell High" + "Buy Low" by using the least stop loss to earn the most target profit.
GBPUSD - Strategy for Morning
Breakout for Long - EP{1.5768, wait for retrace and breakout upward again to buy},
SL {1.5741}, TP1- 1.5873, TP2- 1.5933, TP3- 1.5993}.
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 {1.5681, wait for retrace and breakout downward again to sell},
SL {1.5679}, TP1 - 1.5568, TP2 - 1.5508, TP3 - 1.5458.
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.
EURUSD - Recommended strategy for Morning
Breakout for Long - EP{1.3708, wait for retrace and breakout upward again to buy},
SL {1.3681}, TP1- 1.3793, TP2-1.3843, TP3- 1.3893}.
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 {1.3621, wait for retrace and breakout downward again to sell},
SL {1.3669}, TP1 - 1.3508, 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 up but failed to break
GBPUSD{1.5768}, EURUSD{1.3708}
Waiting for the direction to reverse and trends down before enter a Short trade, SL is 28 pips away from EP.
Aggresive trader who dare to enter opposite trade after hit SL.
GBPUSD near price of “1.5740”,
EURUSD near price of “1.3670”,
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. (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.
Buy Low trader pays attention to the major line of
GBPUSD {1.5550}, EURUSD {1.3500}.
If the price is unable to breakout, enter Long trade with SL of 10-20, take profit after price retraced.
I wish all of you have a fruitful trading day!
Take Note:
1. Breakout for Short and Long: To prevent false breakout, the price must breakout at least 10~15 pips and retrace back the EP before we can buy or sell.
2. Aggressive trader: As long the condition for entry is fulfilled, EP can be plus or minus 20 pips
3. The preference to enter market: “Aggressive trader” strategy will be the first choice, breakout for Long/Short will be second choice.
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