Trade photo

Having been out as the data was released, I've set a limit order for a small pullback. With a 25 pip stop loss and 38 pip profit target

It's a 'risk on' trade based on today's data maintaining the recovery following the recent (I believe, overblown) negativity. it was a coin toss between short JPY or short CHF.

The stop loss is behind a 5min swing, which is a risk but I just feel the stop loss on a 1hr chart would have to be too large. The other risk to the trade is a return of negative sentiment.

Feel free to email any questions: johnelfedforexblog@gmail.com