GBPUSD EURUSD Morning 30 March 2010

Posted by GBPUSD 100 On 12:45 PM

“Tonight market can go any direction!” The market had been ranging since last night until now.
The longer the market is ranging, the strength will be more aggressive.
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{1.5038}, SL {1.5011}, TP - 1.5143
Short - EP {1.4991}, SL {1.5029}, TP – 1.4858

EURUSD - Breakout Strategy
Long - EP{1.3538}, SL {1.3511}, TP- 1.3643.
Short - EP {1.3481}, SL {1.3519}, TP- 1.3358
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{1.5038}, EURUSD{1.3538}
When the market is no longer going downward instead it reversed upward, now it is time to enter Long trade, SL is 38 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 “1.5020”,
EURUSD Sell - EP “1.3520”,
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 {1.4900-1.4850}, EURUSD {1.3400 – 1.3350}.
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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