GBPUSD EURUSD Night 26 March 2010

Posted by GBPUSD 100 On 8:07 PM

Morning Trade Review
GBPUSD Breakout for Long and Aggressive trade invalid.
Breakout for Short entered and profit around 30 pips.
EURUSD Breakout for Long and Short invalid.
Aggressive trade failed to enter setup because at 1.3360 {don’t fulfill when the market is no longer going upward instead it reversed downward}. If new trader enter the trade accidentally, they could exit with no win no loss or small loss by end of 6.30pm.

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

GBPUSD - Breakout Strategy
Long - EP{1.4928}, SL {1.4891}, TP- 1.5033.
Short - EP {1.4831}, SL {1.4879}, TP – 1.4718

EURUSD - Breakout Strategy
Long - EP{1.3468}, SL {1.3441}, TP- 1.3563.
Short - EP {1.3361}, SL {1.3389}, TP- 1.3258

After 23:30 {GMT +8:00 Singapore} the market trends up but failed to break
GBPUSD{1.4928}, EURUSD{1.3468}
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 “1.4900”,
EURUSD Sell - EP “1.3450”,
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.

Buy low trader paid attention to the major line of
GBPUSD {1.4800 – 1.4750}, EURUSD {1.3300 – 1.3250}.
If the price is unable to trend upward, enter Short trade with SL of 10-20, take profit 80pips.

Take Note:
1. Breakout for Short and Long: To prevent false breakout, the price must breakout at least 10~15 pips and retrace back the EP before we can buy or sell.
2. If hits SL, trader should wait for retrace of 10-20 pips {to play safe, low risk trader waits for retrace and break SL price again} to enter opposite trade – sell
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.

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