This one moved fast and furious in two big moves and gave us a huge amount of pips. First the back story. We opened this as a sell trade on March 17 at the close of the 0600 EDT one hour bar at 1.1816 (see earlier post). The pair did not move much yesterday, but today, beginning with the 0500 bar, it started to fall. And fall it did, like a rock. We moved to break even at +50 pips (1.1766) just before 0600 EDT this morning. It fell pretty steadily until just after 1000 EDT. By then our stop was already saving 125 pips of profit. The pair moved sideways for a few hours, coming close to stopping us out (which I would not have minded, I mean, 125 pips is nothing to sneeze at), then it dropped like a stone starting at about 1415 EDT. In less than 30 minutes it fell another 200 pips (thank you Ben Bernanke), then retraced enough to knock us out at 1.1441 for a 375 pip gain. Nothing tastes as good as sweet success! I've got a busy day tomorrow so I may not get a chance to do much, but I hope update where things are with some of the other trades I was watching (got a few on the GBP/JPY today too) by this time tomorrow.
Happy Trading!
Happy Trading!
