Thursday, April 23, 2009

Trade Update - EUR/USD

For the original trade idea, click here. If you recall, I gave two ways to trade this set up. I said you could trade the inner channel break out, perhaps for a half position, then the outer channel, for another half position. I traded the inner channel with an entire lot as my day was going to be crazy and I did not have the time to be watching the trade. I checked it at lunch time and moved to break even and put a 20 pip trailing stop on the trade. The trade is still open and I am up 60 pips so far. The purple line above the most recent highs is the line where my stop will advance another 20 pips. I'll keep you posted.

Happy Trading!