A volatile session with the EUR selling off early in the UK session. At a time of day when we frequently see reversals and/or trending moves, the EUR set up nicely allowing for a 12 pip stop loss for a potential 98 pip gain to our Target 2.
We are not anticipating staying in the trade long, but the setup is a desirable one. The key to the trade is to get the risk out of the trade as early as possible and to protect profits in advance of the pending US session volatility. The US news works in our favour and we are subsequently closed out at our profit stop.
Good luck with your trading!
Back tomorrow if we can find a trade.
