GBPUSD EURUSD Night 14 April 2010

Posted by GBPUSD 100 On 7:42 PM

Recommend strategy: "Sell High” + "Buy Low" +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{1.5488}, SL {1.5461}, TP - 1.5593
Short - EP {1.5421}, SL {1.5459}, TP – 1.5318

EURUSD - Breakout Strategy
Long - EP{1.3688}, SL {1.3661}, TP- 1.3783.
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 22:30 {GMT +8:00 Singapore} the market trends up but failed to break
GBPUSD{1.5488}, EURUSD{1.3688}
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.

After 22:30 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 “1.5470”,
EURUSD Sell - EP “1.3660”,
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. 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.

Buy low trader pays attention to the major line of
GBPUSD {1.5350-1.5300}, EURUSD {1.3500 – 1.3550}.
If the price is unable to breakout, enter Long trade with SL of 10-20, take profit after price retraced.

1 Comment

  1. Anonymous Said,

    Hi,
    i'm a beginner in fx and wish to learn more from you. i've added you on msn and hope to see you online! :)

    Posted on April 15, 2010 at 8:30 PM

     

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