This trade worked out just like I thought it would. Click here for the original trade idea. You can see that the pair fell through the support line and I opened the trade at 1.3238. It went back up through the line immediately and looked like it was not going to cooperate. I had my initial stop set at 1.3340 and the pair was moving in that direction, but never really came close. The pair started falling on the 1030 EDT bar (remember that we are using 15 minute bars here) and fell steadily until it hit the green base line (our profit target). I never even had a chance to move to break even as I was in a meeting until noon. I came out, checked the trade and found that we had been stopped out by the limit order I'd put in at the profit target. So to recap, short at 1.3238, stopped out at 1.3160 for a net gain of +78 pips. Not bad.Happy Trading!
