One possibility was that the pair would continue rallying towards the blue trend line.
It didn’t, and it was decided to lock in 40 PIPS as worst case.
We wouldn’t move this stop lower, only higher based on price action.
There was a nice reaction off of that area, about 160 PIPS
Note: On MT4 (U.S. accounts) – If you have more than one position you can exit one of them with a market order. If you set a stop loss or a take profit order, all positions will be closed.
The exchange rate of this pair came close to a long term swing area which led to a reversal.
I am long with a small size and will continue to monitor the price action.
Charts101 Trading 