This trade opened when the pair closed above the top line of the converging triangle at the close of the 1900 EDT 15 minute bar. I was long the USD/JPY at 99.72. The pair rose pretty quickly and we hit the +30 move to break even just after 2015 EDT. I put a 10 pip trailing stop on at that time because I was in the middle of something else and would not be able to check back frequently. This is not uncommon for me when I trade either at work or at home, and it is not the way to maximize profits, but it does protect pip gains and keeps you from having to watch the trade in real time. In this case, the pair rose and moved the stop up by 10 pips, then tried to gain more but just couldn't pull it off. The pair fell back to the stop and we were out with a 10 pip gain. I never regret making a profit, but I thought this pair might go higher. I expect that the 100 yen to dollar level is acting like a barrier to the rise of this pair. If it breaks that, it could go up a good bit. Happy Trading!
