This pair is in the sell zone and has tested the 127 a higher time frame. It likely will retest the wick that we made this morning... I already entered into a sell and anticipate going for a ride if we can get back into the AB boundary. If you are not already in this, anticipate a pop up and a retest of the wick. Wait for the test on this time frame and then enter in selling. You can apply some of your own methods to sell this. I utilize a 45 degree angle as it falls and add positions on the way down. Remember that your stop loss should be no more than one third of your overall estimated target. Thanks and good luck if you trade it with me.
Trade active:
I have taken profit on another position and am hedged on this going north since last night. Take profit and pull to break even on your entry from last week.
Trade active:
We are taking 30 percent of the overall position at .9950 today before the interest rate decision. I don't want to see anyone out there who does not have the stop pulled into 40 pips profit on this. If it goes to the target, great. If it begins its retracement, which I believe it will do, then we will trade it again. Thanks for all your text messages and take care out there in trading land!
Trade closed manually:
I do hate kissing this good bye but I have specific rules when it comes to FOMC and threatened rate hikes. I have removed this and will wait for the break up and we will retrade it! This was an awesome trade for us! If you hold, pull the stop very close.. at least 100 pips into it in order to avoid slippage. Make sure you have taken profit. Will see you for the next one.
Trade closed: target reached:
Congratulations to those of you who held this a little longer than I did. I took some profit on a hedge and caught a scalp down on it this morning. I am off the position here for the last 60 pips of it and am out. Thanks for trading it and I will post an update soon!