Night Trade Review
GBPUSD Breakout for Short and Aggressive trade failed to enter setup.
Breakout for Long profited over 30 pips.
EURUSD Breakout for Short failed to enter setup.
Aggressive trade and Breakout for Long entered and profited over 50 pips.
Overall yesterday morning and night analyze gained above 150 pips.
This morning the market will more volatile than yesterday because Investment firm is going to enter their position for the weekend market.
Recommend strategy: "Sell High" + "Buy Low" by using the least stop loss to earn the most target profit.
GBPUSD - Breakout Strategy
Long - EP{1.5048}, SL {1.5021}, TP- 1.5143.
Short - EP {1.4941}, SL {1.4979}, TP – 1.4848
EURUSD - Breakout Strategy
Long- EP{1.3648}, SL {1.3611}, TP- 1.3743.
Short - EP {1.3571}, SL {1.3609}, TP- 1.3458
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{1.5048}, EURUSD{1.3648}
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 “1.5020”,
EURUSD Sell - EP “1.3630”,
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. 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 {1.4800 - 1.4850}, EURUSD {1.3500 – 1.3450}.
If the price is unable to breakout, enter Long trade with SL of 10-20, take profit after price retraced.
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