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Early in the morning, before the US markets started trading we saw a spike in the pair. It triggered the short entry order at 1.1150. Unfortunately, the 30 pips stop wasn’t enough to weather the whipsaw. Actually it wasn’t enough by 3 pips!!! Doh!!! After the stop out, the pair dropped back down to hit pt1 and pt2. What a frustrating trade! But we’ll just have to review and learn, and hopefully we’ll take new knowledge away from it.

Lot 1: -30 pips

Lot 2: -30 pips

Total: -60 pips

On a side note, it is an extended holiday weekend here in the US, so we probably won’t have a Pick of the Day until Tuesday evening at 12:00 am EST (midnight).

This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.