Updating 1/29
USD was spiking and had come up to some resistance, but still looked like it had upside. EUR wasn’t on my radar in the morning, but it was sitting in the middle of the range and I had it in the back of my mind to keep my eye on it for shorts. Later in the day, watching the RSW comparison on the JPY chart, I noticed EUR was starting to drop, while USD was still rising so I looked at that pair.
When I got to this chart, it had spiked down a ton, and was rallying. It looked like a great re-test pattern, so I set my entry/stops based on that. Price continued to push higher, though, and actually pushed above where my stop would be. It really only wicked above, though, so I held on. Price did push back down and triggered me into the trade.
Entry – 1.20998
Exit – 1.20992
After triggering my entry, price mostly stalled around that level. Though at one point it did start to spike and made me nervous. I left it alone, though, and revisited later in the day when I noticed that price came within 5 pips of 1R, but at the time was pushing back up to my entry.
I didn’t want to move my stop to break-even at that point, since price was so close (I know, that’s trading more with my gut than my rules, but moving my stop to B/E at 5 pips outside of 1R was also more of a “gut” call), so I left it alone yet again.
By the time I went to bed that night, price was still hovering right around my entry. I woke up in the middle of the night and checked the charts, and at that point I noticed that price was within 1 pip of 1R, so I moved my stop to break even at that point. It didn’t take long, though, and price pushed back up, stopping me out of the trade, but in a small profit.
