Thursday, February 26, 2009

Trade Update - CHF/JPY - Move to Break Even

This trade opened long at the end of the 0400 EST bar at 84.19. It moved up pretty quickly, but has stalled at the +20 to +30 pip range. I'm moving to break even now to make sure it does not turn around quickly and take us out. If it does stop us out, I'll look for a reentry point if the upper band of the channel looks like it has become support rather than resistance. I'll keep you posted.

Happy Trading!