This trade opened last night, depending on how you entered either at around 2200 EST or at about 0300 EST (this morning). I opted to take half a position at the break of the narrow channel and then half if it broke the wider channel. It broke both. Here's how it happened. The pair broke through the narrow channel at the end of the 2100 bar. I opened half a position at 1.6567. I got up last night at 0230 EST to check the position and the pair was just getting to my +30 pip break even point. I moved to break even then watched as the close of the 0200 EST closed beyond the wider channel. I opened the second half of my position at 1.6613. The pair moved up pretty well for the next few minutes hitting a high of 1.6670 just before 0315 EST. Then, the bottom fell out. Within the next half an hour both of my trailing stops were hit and I went back to bed. The total was +70 pips for my early half position and +20 pips for the second half. I've averaged them for the purposes of record keeping and am calling it +45 pips for the total trade. I think the Pound pairs have more movement in them and will be watching them for the next day or so. I'll keep you posted.
Happy Trading!
Happy Trading!
