GBPUSD EURUSD Night 10 Mar 2010

Posted by GBPUSD 100 On 9:11 PM

Morning Trade Review
GBPUSD Breakout for Long and Aggressive trade failed to enter setup.
Breakout for Short profited over 50 pips.
EURUSD Long and Aggressive trade failed to enter setup.
Breakout for Long entered but profit is less 30 pips to shift SL back to EP {Read A Guide For The Novice Trader To Reduce Risk And Protect Capital}. By 18:30, current open position was -10pips. After apply the rules “How to protect capital” from the guide above, trader can close the trader without losing a cent.


The market was moved within my analyze. Do bear in mind of above basic rules after enter trade, resolve the different scenario using the appropriate guide provided.
Recommend strategy: "Sell High" + "Buy Low" by using the least stop loss to earn the most target profit.

GBPUSD - Breakout Strategy
Long - EP{1.5028}, SL {1.4991}, TP- 1.5133.
Short - EP {1.4921}, SL {1.4959}, TP – 1.4818

[u]EURUSD - Breakout Strategy [/u]
Long - EP{1.3668}, SL {1.3641}, TP- 1.3763.
Short - EP {1.3601}, SL {1.3639}, TP- 1.3508
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{1.5028}, EURUSD{1.3668}
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 “1.4980”,
EURUSD Sell - EP “1.3650”,
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 {1.3550 – 1.3500}.
If the price is unable to breakout, enter Long trade with SL of 10-20, take profit after price retraced.

2 comments

  1. Kras Said,

    I think today GBPUSD will be reach to 1,4850 about

    Posted on March 10, 2010 at 9:41 PM

     
  2. GBPUSD 100 Said,

    Yesterday GBPUSD hit the lowest point of 1.4872. There is a support near 1.4880.

    Posted on March 11, 2010 at 2:27 PM

     

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