We kind of got whipsawed on this trade. There were two trades, as the pair moved down through support, then reversed and went up through resistance. We opened the trade short at the end of the end of the 2000 EDT bar yesterday at 86.70. the pair moved sideways for several hours then moved up and took us out at the upper resistance line at 87.10 for a loss of -40 pips. That bar closed above the blue line so I opened a long trade at 87.11 at the end of the 0145 EDT bar early this morning. Pair moved up nicely and we moved to break even fairly quickly. However, just after the start of the European session, the pair started falling and we were stopped out just before 0330 EDT with a +20 pip gain. The total for this trade was -20 pips (sigh). We'll hope for better next time.Also, the USD/JPY is open and profitable. I'll be watching it and let you know how its going.
Happy Trading!
