GBPUSD EURUSD Night 30 March 2010

Posted by GBPUSD 100 On 9:09 PM

Morning Trade Review
GBPUSD Breakout for Short invalid.
Aggressive trade entered and hit stop loss of 28 pips. If hits SL, wait for retracement of 10-20 pips, trader can earn back the loss amount {the first target profit should cover the stop loss hit earlier}
Both trades will break even, psychology and account will not lose!
EURUSD Breakout for Long invalid.
Aggressive trade entered and profit
Break for Short entered but the profit is too less when time reached 6.30pm. This trade shall consider no gain no loses


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{1.5158}, SL {1.5131}, TP - 1.5253
Short - EP {1.5091}, SL {1.129}, TP – 1.4958

EURUSD - Breakout Strategy
Long - EP{1.3558}, SL {1.3531}, TP- 1.3653.
Short - EP {1.3481}, SL {1.3519}, TP- 1.3368
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 22:30 {GMT +8:00 Singapore} the market trends up but failed to break
GBPUSD{1.5158}, EURUSD{1.3558}
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 22:30 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 “1.5130”,
EURUSD Sell - EP “1.3540”,
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 {1.4950-1.5000}, 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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