GBPUSD EURUSD Morning 11 Mar 2010

Posted by GBPUSD 100 On 1:08 PM

Night Trade Review
GBPUSD Breakout for Short and Long failed to enter setup.
Aggressive trade entered and gained more than 50pips. Next the price trend down but failed to break through Breakout for Short. The market reversed to shoot up, experienced trader will close the Short (Aggressive trade) to enter Long trade {SL is 28pips from EP}. But the trade is over effective time of Night analyse. The method is fit with experience and US Europe trader instead of Novice trader (low risk trader).


EURUSD Breakout for Long {1.3668} invalid, no retrace after price capped at the high of 1.3679}. This is belong to false breakout.
Breakout for Short failed to enter setup.
Aggressive trade {1.3668} fulfilled. As the price is breakout of 1.3650, the pair is trend up without any sign of retracing, proven as false breakout. When the price fell back to EP, Short trade entered with profited over 50 pips.
Overall yesterday morning and night analyze gained above 150 pips.

This morning the market will more volatile than start and mid of week because Investment firm will open and close position on hand. As market marker, they will confuse the investor by hidden their true color below.
Recommend strategy: "Sell High" + "Buy Low" by using the least stop loss to earn the most target profit.

GBPUSD - Breakout Strategy
Long - EP{1.5048}, SL {1.5021}, TP- 1.5143
Short - EP {1.4971}, SL {1.5009}, TP – 1.4868

EURUSD - Breakout Strategy
Long - EP{1.3728}, SL {1.3691}, TP- 1.3843.
Short - EP {1.3631}, SL {1.3669}, 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 17:30 {GMT +8:00 Singapore} the market trends up but failed to break
GBPUSD{1.5048}, EURUSD{1.3728}
Waiting for the direction to reverse and trends down before enter a Short trade, SL is 28 pips away from EP.

After 17:30 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 “1.5020”,
EURUSD Sell - EP “1.3700”,
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.

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 {1.3500 – 1.3450}.
If the price is unable to breakout, enter Long trade with SL of 10-20, take profit after price retraced.

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