Although EUR dropped sharply this morning against major counter currencies, the extent fell far short of moving the pairs into bear phase.
Yet, it was certainly enough to trigger my stops on EUR/USD and EUR/GBP, which I had tightened severely the day before the European Central Bank rates announcement.
Having been stopped out of the pairs while they remain in price-channel bull phase, under my rules I cannot re-enter until their prices again pierce the price-channel boundary. I lose some profit under that rule, but I also avoid some whipsaw.
| sym | phase | adx | bday | blevel | stop | atr | atr% |
|---|---|---|---|---|---|---|---|
| CAD/SGD | may4 | S$1.2824 | S$1.2732 | 0.0092 | 0.7% | ||
| CHF/SGD | may5 | S$1.4380 | S$1.4238 | 0.0142 | 1.0% | ||
| EUR/SGD | may4 | S$1.8257 | S$1.8115 | 0.0142 | 0.8% | ||
| SEK/PLN | may5 | zł0.4351 | zł0.4389 | 0.0038 | 0.9% |
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