Night Trade Review
GBPUSD Breakout for Short was invalid.
The profit of Aggressive trade was not much. For those didn’t exit the trade in time, it can be no win no lose {close trade if the pair was unable to break the lowest price in 3 hour times}
After 23:15 the market trends down but failed to break Breakout for Short, trader can go for Long when direction reverse upward. The profit is more than 50 pips.
Breakout for Long is valid but it’s over effective time.
EURUSD Breakout for Short was invalid.
Breakout for Long is valid but it’s over effective time.
Aggressive trade is valid and profit around 30 pips.
After 23:15 {GMT +8:00 Singapore} the market trends down but failed to Breakout for Short or false breakout, trader can go for Long when the direction reverse up, trader can gain at least profit 50pips.
Hundred Pips Executor successfully accomplished mission.
Tonight major news:
20:00 – GBPUSD – MPC Rate Statement
20:45 – EURUSD – Bid rate announcement
21:30 – EURUSD – ECB Press Conference
Morning trade will be relatively quiet and traded in narrow range. Beware of false breakout of market maker.
Recommend strategy for this morning: "Sell High"+ "Buy Low" by using the least stop loss to earn the most target profit.
GBPUSD - Strategy for Morning
Breakout for Long - EP{1．5178, wait for retrace and breakout upward again to buy},
SL {1．5151}, TP1- 1．5273, TP2- 1．5333, TP3- 1．5393}.
If hits SL, wait for retrace of 10-20 pips to enter opposite trade – sell. TP and SL is same as Breakout for Short.
Breakout for Short - EP {1．5061, wait for retrace and breakout downward again to sell},
SL {1．5089}, TP1 - 1．4958, TP2 - 1．4908, TP3 - 1．4858.
If hits SL, wait for retrace of 10-20 pips to enter opposite trade – buy, TP and SL is same as Breakout for Long.
EURUSD - Recommended strategy for Morning
Breakout for Long - EP{1．3788, wait for retrace and breakout upward again to buy},
SL {1．3761}, TP1- 1．3893, TP2-1．3943, TP3- 1．3993}.
If hits SL, wait for retrace of 10-20 pips to enter opposite trade – sell. TP and SL is same as Breakout for Short.
Breakout for Short- EP {1．3671, wait for retrace and breakout downward again to sell},
SL {1．3709}, TP1 - 1．35508, TP2 - 1．3508, TP3 - 1．3458.
If hits SL, wait for retrace of 10-20 pips to enter opposite trade – buy, TP and SL is same as Breakout for Long.
After 17:30 {GMT +8:00 Singapore
GBPUSD{1．5178}, EURUSD{1．3788}
Waiting for reversal totrends up before enter Short trade, SL is 28 pips from EP.
After 17:30 {GMT +8:00 Singapore
Breakout for Short or false breakout
Waiting for reversal totrends up before enter Long trade, SL is 28 pips from EP.
[u]Aggresive trader [/u]
GBPUSD near price of “1．5150”,
EURUSD near price of “1．3760”,
When the market is no longer going upward instead it reversed downward, now enter Short trade, SL is 38 pips from EP. TP is same as Breakout for Short.
[u]Buy Low trader[/u] pays attention to the major line of
GBPUSD {1.5000~1.4950}, EURUSD { 1.3600~1.3550}
I wish all of you have a fruitful trading day!
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