Price has continued to make its way to the target of 108.80.
Today's high is 108.64 that is a profit in excess of 4%.
With the latest round of QE from the US I expect the target will be hit this evening
As you can see the Stochastic has remained overbought for the past 24hours, meaning that there has been no pullback, allowing a good risk reward entry.
If I had just jumped in at the market price of 107.05 the stop loss would have been 65 pips meaning a move of 325 pips would be required to make 5%
I was close, but no cigar on this occasion.
Chart below
I will update again when the next strategy trade has been identified
Have a good evening
Regards
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