I wanted post an update on the Euro positions I've had open recently.  One has been profitable for me, and the other not so much.

First with the bad...

The EUR/USD short position I took after the pair broke the rising trendline was stopped out on Friday when the pair retraced back above the trendline.  I took a -115 pip hit on both halves of that position.  In the words of Forrest Gump, "that's all I got to say about that."

Now for the good...

The EUR/GBP short I took initially moved in my favor but then retraced and waffled around my entry price for a bit.  Sunday evening I'd had enough and tightened my stop to just above the high for the day.  Overnight Sunday and into Monday morning, the pair began to move lower, and I was able to bank half of my position at 1R for 167 pips.  The other half of my EUR/GBP position is now risk free.

In reviewing my EUR/GBP position tonight, I see a possible low-risk opportunity for adding to my short position shaping up.  The 4 hour chart below shows that we are at the top of a channel, with price giving the appearance of respecting the down trendline.  The overall trend on the daily chart is down, indicated by the top red line.

So, I've entered a sell order just below the low of the current candle on the 4 hour. If price continues to move south, this order will add to my EUR/GBP position.

• Short Entry: 0.8835
• Initial Stoploss: 0.8927