Morning Trade Review
GBPUSD Breakout for Short and Aggressive trade was invalid {the market is no longer going upward instead it reversed downward }
Breakout for Long entered and gained profit around than 60 pips.
EURUSD Breakout for Long and Short failed to enter setup.
Aggressive trade entered and gained profit around than 30 pips.
Breakout for Long entered 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}
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{1.5468}, SL {1.5441}, TP- 1.5573.
Short - EP {1.5311}, SL {1.5339}, TP – 1.5208
EURUSD - Breakout Strategy
Long - EP{1.3838}, SL {1.3811}, TP- 1.3943.
Short - EP {1.3751}, SL {1.3789}, TP- 1.3658
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{1.5468}, 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 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 “1.5430”,
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. 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 {1.5200 - 1.5150}, EURUSD {1.3650 – 1.3700}.
If the price is unable to breakout, enter Long trade with SL of 10-20, take profit after price retraced.
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