For the original trade idea, click here. This pair did what it was supposed to do, then did what it often does. First, it broke strongly out of the box at the end of the 0900 EDT candle yesterday. We were long the pair at 1.5150. The pair moved up well on the next candle and we moved to break even at +30 pips just after 1130 EDT. Then it simply fell back inside the box. We were stopped out at break even just after 2000 EDT for no gain. The pair fell back to the 800 sma (which is what they often do). I'll be watching this pair for another set up. We know it is going to move away from the 800. It is just a matter of when, and in what direction.Happy Trading!
ps. The GBP/JPY trade is open and not looking to bad. We moved to break even and have saved 20 pips so far with our trailing stop. I'll keep you posted.
