After I posted this idea yesterday, I put a sell limit order in at 1.2900, with my stop at 1.3000. My sell was just barely hit at just before 0830 EST on Wednesday morning. I moved my stop to break even at about 0900 EST and put a 50 pip trailer on it. I wanted to give this pair some room to run as I believe it will ultimately hit the 800 sma and that line was at about 1.2460. I did not want to get stopped out prematurely. The pair fell pretty well, had a bit of a reversal and ultimately stopped me out at 1.2800 at about 0450 EST this morning (the 5th). I had the trade on auto-pilot and was not really watching it closely after the move to break even. It looks like the move just ran out of steam early this morning and just couldn't keep falling. When I got up this morning I reloaded the sell limit and was put back in the trade just before lunch today. I am short the pair at 1.2900 again with my stop set at 1.3000. I'll keep you posted on how it goes.
Happy Trading!
Happy Trading!
