Entered short on a bit of a consolidation. Again an ABCD pattern with D entering but not really breaking the resistance zone. It did pullback again for a third pullback after my entry but appears now to be resuming the trend.  I put a limit of 2 R but if  i m close to my computer when it gets close i will remove that and trail dynamically.  I find when there is a lot of open water between my entry and the next logical s/r targets larger than 2 R are uncommon without a pullback of some sort. I would rather exit and re enter . Next logical s/r just over 1.5300 so thats more than 300 pips away. This trade is at breakeven currently.

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Comment by talisman on May 30, 2012 at 11:15am

this trade did close at the target about 100 pips (2R)

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