EUR/USD Short Position Closed for a Small Gain

November 4, 2008 20:32 by Jon

My EUR/USD short position was closed today for a small gain as the pair soared prior to today's election.  My stops on both halves of my position were hit.  My price-action-based trailing stop was hit at breakeven, and my fixed-pip trailing stop was hit for 49.6 pips.  So, it was a small win, but a win nonetheless.  With price pulling back so sharply today, I'll be looking for another short entry in the coming days in this pair, since the prevailing trend on the daily chart is still down (though, caution will be taken, since the pair failed to make a lower low).

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January 6. 2009 16:23