This trade has gone well. Click here for the original trade idea. We entered the trade at the close of the 2000 EDT bar last Thursday (May 28) at 96.50. After teasing us by going back up inside the channel after opening, the pair fell steadily starting at the beginning of the Friday morning European session and has fallen pretty well since, until the end of trading on Friday the 29th and trading today. We have saved 100 pips using a trailing stop and are still in the trade. We came close to being stopped out at the close of the 1900 EDT bar today, but it has pulled back since the end of that bar. I'll keep you posted on progress.Happy Trading!
Note- Since I posted this update, the pair has fallen 60 pips very quickly. I'm moving my stop to 30 pips above the current price, now 94.91, and will see what happens. I don't understand the big move, but don't want to lose its benefit in a wild retracement.
