Here is a trade I took last week on the 10th of October 2012. I shorted the EUR/GBP after a BEOB formed off a horizontal level that was previous resistance. It also occured off the 150 ema (blue line on my chart), which is an ema where price often reacts. My plans was to take half profit at 0.8000 (BRN) and move the other half to break even to target the 0.7960 area (blue line on my chart). Risk was 2%. Here is my entry chart (click to enlarge)
Here is what happened.
As you can see, a couple of days after the BEOB, a BUOB formed. This told me the trade was unlikely to go any lower, and I manually closed my trade at 0.8059 for a loss of 0.8%. In hindsight I don't think this was a bad trade to take, but perhaps I should have given more weight to the area I've marked on my chart with a red horizontal line (between the pink and blue lines). This area was acting as support previously, if you towards the left of the chart.
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