This trade opened when the pair closed below a long term resistance line yesterday morning about 0540 EDT (see the post titled "What I'm Watching Now" from last Sunday). I was short the pair at 137.77. Before 0900 the pair had moved the 100 pips to break even (my standard for this pair because it is so volatile) and moved my stop to +50 (as you know from prior posts, I put a 50 pip trailer on this pair usually after moving to break even). Then it came back and moved up through my stop quickly, taking me out just before the close of the 0900 EDT bar. I'll take +50 pips any day, but I do think this pair has more to give and I'll be watching it.
Happy Trading!
Happy Trading!
