This trade worked out very well (click here for original trade idea). It has stalled around the 800 sma and took us out on a retracement last night during the 2100 EDT hour bar. We entered this trade at the close of the 2000 EDT hour bar on Sunday the 19th. The pair fell pretty well over the next day or so until it hit resistance at the 800 simple moving average where it started bouncing around. This is not unusual as a lot of traders use the 800 as an exit for a trade and you often see trades start to struggle at the 800. The pair finally hit our trailing stop just after 2100 EDT last night. Total win was +340 pips. I'll take that any day.This trade may be setting up for a box trade (where it bounces around the 800 several times trying to decide which direction it will go). I'm going to keep an eye on it. For now, I'm just going to enjoy the win and have some more coffee.
Happy Trading!
