Euro$

In this Blog which is focused on longer term trades I will initiate trades at 800GMT and at 1200 GMT. At 1600GMT I will make a decision as to whether profits or losses should be taken or the position held overnight.
The Euro $ trade has gone well but I worry about holding it overnight. The stop is at entry at 4115 but the 62% retracement of todays move is above this. A rally overnight and our stop will be too close. I dont like to move stops. Moving stops is like going on a diet and having just one beer. Fairly soon the diet is gone.
As I write the position is up 125 points. I am banking the 125 points now. We can re enter tomorrow. A small winner as the position size was small but a winner.
I will be back at 800 GMT
Have fun
David