A quick shot of what I was looking for earler this morning with the EUR/USD short play. I already had the resistance area in the 1.39 range marked and figured we would see some reaction off that area. This, coupled with the short term trend down and break of 1.38 yesterday (however, no break of lower levels at 1.375, etc.), I was looking for continued movement downward.
Almost happened...but shortly after moving stops to B/E, the EUR powered back up to test highs before heading lower into my adjusted T/P at 1.383
Next time. These smaller trend plays with larger T/P's are generally a lot lower stress for me and risk is quite in control (generally .3-.5% of the account per trade).
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