We started this trade on January 4^th at around 84.50 looking for an overall target of 89.86 ( 493 pips potential not counting pullbacks). We have progressed to the first major resistance at 87.73 which means we are up 323 Pips- about 2/3rds of the way to our target. This resistance could create a significant pullback as it is a double top and the R5 of this 5^th wave. So a pullback here means move stop fairly tight as the pair may not be able to push into the new territory. No need to give back a bunch of pips – you can always reenter. A pull back would allow you to add to this position and then on the break of the double top add a position for the 1.270 Fibo @ 88.55 in route to the overall target.

Hope this has been a good opportunity for you.

In HIS Grip!

Scott Barkley