GBPUSD EURUSD Morning 17 March 2010

Posted by GBPUSD 100 On 1:39 PM

Night Trade Review
GBPUSD Breakout for Short and Long failed to enter setup.
Aggressive trade entered and but profit is very less or no win no lose {close trade if cannot break the lowest price in 3 hours time, observe the direction before re-enter again}
EURUSD Breakout for Short and Long failed to enter setup.
Aggressive trade entered and gained more than 30pips.


Recommend strategy: "Sell High" + "Buy Low" to trade in the high and low point in the range, keep Take Profit in your pocket is the best way.

GBPUSD - Breakout Strategy
Long - EP{1.5318}, SL {1.5291}, TP - 1.5423
Short - EP {1.5191}, SL {1.5229}, TP – 1.5078

EURUSD - Breakout Strategy
Long - EP{1.3838}, SL {1.3811}, TP- 1.3943.
Short - EP {1.3751}, SL {1.3789}, TP- 1.3648
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{1.5318}, EURUSD{1.3838}
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 “1.5290”,
EURUSD Sell - EP “1.3820”,
When the market is no longer going upward instead it reversed downward, now it is time to enter Short 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. 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.

Buy Low trader pays attention to the major line of
GBPUSD {1.5100-1.5050}, EURUSD {1.3700 – 1.3650}.
If the price is unable to breakout, enter Long trade with SL of 10-20, take profit after price retraced.

The operating time:
Morning Analyse - 12.00pm until 18:30pm {GMT +8:00}
Night Analyse - 20:30 to 00:30 (12.30am)

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