I fancied the price action toward parity after the ABC correction to previous resistance at the 1.0190 levels. My initial take profit target was above parity at 1.0008. I then decided to lift my target to 1.0078 only to painfully watch as price stalled at the 50% fib and 4hr moving averages.
I also tried to take a smaller scalp position of the 50% and 1H moving average but that took me out as the news hit.
Looking to next week - I have taken it through the payroll number on Friday. in advance of this my take profit is now 1.0025 which is around the trend line support. I will monitor this to maybe take it out earlier at 1.0050 - 200 EMA support.
In hindsight - like the EUR before - maybe should have been content with a couple of 2:1 risk reward trades?
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