GBPUSD EURUSD Night Analyse – 29 April 2010

Posted by GBPUSD 100 On 8:24 PM

Morning Trade Review
GBPUSD Breakout for Long gained at least 20 pips and Aggressive profit at least 100 pips.
Breakout for Short invalid setup.
EURUSD Breakout for Long gained at least 20 pips.
Breakout for Short and Aggressive trade had invalid setup.
Overall both trades can profit more than 100pips above.


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 {1.5251}, TP - 1.5383
Short - EP {1.5191}, SL {1.5219}, TP – 1.5208

EURUSD - Breakout Strategy
Long - EP{1.3288}, SL {1.3251}, TP- 1.3383.
Short - EP {1.3211}, SL {1.3249}, TP- 1.3108
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 22:15 {GMT +8:00 Singapore} the market trends up but failed to break
GBPUSD{1.5288}, EURUSD{1.3288}
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 “1.5200”,
EURUSD Sell - EP “1.3220”,
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.

Sell High trader pays attention to the major line of
GBPUSD {1.5350-1.5400}, EURUSD {1.3350 – 1.3400}.
If the price is unable to breakout, enter Short trade with SL of 20-30pips, take profit at least 80 pips.

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