GBPUSD EURUSD Night 15 March 2010

Posted by GBPUSD 100 On 9:13 PM

Morning Trade Review
GBPUSD Breakout for Long entered and the profit is more than 30 pips, shift Stop Loss to Entry Price}
Breakout for Short is entered with profit more than 60 pips.
Aggressive trade failed to enter setup because after the price shoot up then reverse from last week high. It means “Buy” strength is retreat from the market, then it’s time for bearish. Long for aggressive trade obviously failed.
EURUSD Breakout for Short and Aggressive trade failed to enter setup.
Breakout for Long entered but it’s lost few pips when time reached 18:30. We will cut loss to wait for Night Analyse.


Recommend strategy: "Sell High" + "Buy Low" by using the least stop loss to earn the most target profit.

GBPUSD - Breakout Strategy [/u]
Long - EP{1.5118}, SL {1.5091}, TP- 1.5223.
Short -EP {1.5021}, SL {1.5059}, TP – 1.4918

[u]EURUSD - Breakout Strategy [/u]
Long- EP{1.3778}, SL {1.3751}, TP- 1.3883.
Short - EP {1.3701}, SL {1.3739}, TP- 1.3608
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 23:15 {GMT +8:00 Singapore} the market trends up but failed to break
GBPUSD{1.5118}, 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 23:15 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 “1.3760”,
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 {1.3650 – 1.3600}.
If the price is unable to breakout, enter Long trade with SL of 10-20, take profit after price retraced.

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