This trade opened at the end of the 2200 EST bar at 131.63 (you'll recall yesterday I talked about the consolidation of prices around the 800 sma). My stop was set at 131.38, 10 pips below the high side of the channel. The pair immediately fell back inside the channel and the stop was hit at about 0015 EST for a -25 pip loss. This trade is still on and I've moved the upper side of the channel to 131.79. The same rules apply and I'll still take the trade either way. This pair will eventually break away from it s 800 sma. It's just a matter of time.
Happy Trading!
Happy Trading!
