GBPUSD EURUSD Morning 8 April 2010

Posted by GBPUSD 100 On 12:13 PM

19:00 UK Bank Rate Decision
19:45 Europe Bid Rate Decision by 20:30 public release
This morning market will not be too volatile as investor waiting for release tonight.

Recommend strategy: "Buy Low" + "Sell High” 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{1.5288}, SL {1.5261}, TP - 1.5383
Short - EP {1.5171}, SL {1.5209}, TP – 1.5068

EURUSD - Breakout Strategy
Long - EP{1.3388}, SL {1.3361}, TP- 1.3483.
Short - EP {1.3301}, SL {1.3339}, TP- 1.3208
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.

Aggresive trader
GBPUSD Sell - EP “1.5220”,
EURUSD Sell - EP “1.3320”,
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.

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.

Sell high trader pays attention to the major line of
GBPUSD {1.5300-1. 5350}, EURUSD {1.3400 – 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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