Sorry for the late result post. I've been traveling in western Virginia the last few days and the hotel I was staying in had their internet connection go out. You don't know how much you rely on it until its ripped away. Anyway, this trade opened about half an hour or so following my post (this is a very volatile pair) and I was short at 137.14. Remember that I felt a bit funny about how this pair was acting so I was going to move the stop loss to break even at +50 pips. We hit that point about 0715 EST on the 2nd. I put a 10 pip trailer on it at that point (because I was feeling odd about this move, I wanted to protect what I could get) and the pair fell to 136.42 during the 0700 EST bar (while I was going to work) and we picked up +20 pips before there was a quick reversal and we were stopped out at 136.94. You'll note that the pair fell again and went as low as 135.60 before turning northward again. Had I stuck to my 100 pip break even point on this trade I would have made about 40 pips (with the usual 20 pip trailer). We made less, but we risked less, which is how it should be.
I watching this pair as it travels along a fairly well established trend line. We may take another trade here again soon. I'll keep you posted.
Happy Trading!
I watching this pair as it travels along a fairly well established trend line. We may take another trade here again soon. I'll keep you posted.
Happy Trading!
