GBPUSD EURUSD Night 8 March 2010

Posted by GBPUSD 100 On 9:18 PM

Morning Trade Review
GBPUSD Breakout for Long, Short and Aggressive trade failed to enter setup.
When setup of Breakout for Short {1.5141} is accomplished with false breakout, experience trader will enter “Long” and adjust SL to EP to protect capital.
After 17:30 market trends up but failed to break
GBPUSD{1.5248}
Waiting for reversal and trends down before enter Short trade, SL is 28 away from EP. Even the profit is low, but it fulfilled the condition to enter market.

EURUSD Breakout for Long, Short and Aggressive trade failed to enter setup.
Same as GBPUSD, After 17:30 market trends up but failed to break EURUSD{1.3778}, enter Short trade and profit.
Hundred Pips Executor successfully accomplished mission.

“Today the market is looks peaceful but it is symbol of thunder storm rain is coming”. Beware of false breakout by market maker.
Recommend strategy for this morning: "Sell High"+ "Buy Low" by using the least stop loss to earn the most target profit.

GBPUSD - Breakout Strategy
Long - EP{1.5178}, SL {1.5151}, TP- 1.5283.
Short - EP {1.5111}, SL {1.5149}, TP – 1.5008

EURUSD - Breakout Strategy
Long - EP{1.3698}, SL {1.3671}, TP- 1.3793.
Short - EP {1.3621}, SL {1.36589}, TP- 1.3528

After 23:15 {GMT +8:00 Singapore} the market trends up but failed to break
GBPUSD{1.5198}, EURUSD{1.3698}
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 “1.5160”,
EURUSD Sell - EP “1.3680”,
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.

Buy Low trader pays attention to the major line of
GBPUSD {1.4500 - 1.4950}, 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.


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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