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Short EURUSD From 1.3150, Trailing Stop

Short EURUSD From 1.3150, Trailing Stop

David Rodriguez, Head of Product

Yesterday I wrote on the Real Time News feed that I put in a sell-limit order on EURUSD at $1.3150. My entry triggered overnight and I'm sitting short as the Euro trades near important lows.

I'd like to trail my stop to the Euro session high of $1.3163. That would leave the stop at slightly worse than breakeven, but that's okay. I'm targeting a break below $1.30, $1.2960, and $1.2800.

I'm not ready to take partial profits yet, though trailing my stop limits my losses if the pair does turn higher.

--- Written by David Rodríguez, Quantitative Strategist for DailyFX.com

To receive this author's reports via e-mail, contact drodriguez@dailyfx.com with subject line "Distribution List".

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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