expecting a natural retracement from the highs created by the news releases of the day. Once the price reaches a -0.3% drop from the highs I will put on a trail to lock in any profit and hold zero risk.
This is a continuation of a previous idea which was closed at the profit target. I expect this pair to remain range bound.
I agree with your call. The 1.5620 area is also the 618 retracement from the high 1.5717 of the impulse leg.
asiansupermarket
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We are in the money on this trade so you can either put a trailing stop @ 0.025% or just watch it because it looks like it will move lower (or at least not move higher)