Well, the USD finally did break out yesterday! We got UJ > 100. And GU & EU fell below the support where I had exited. This is why I tended to follow my system rules even in chop – coz when the pairs do break out of the range, they move a lot! I have some further refinements in my exit policy in mind which I will trial when the situation is right.
For now, both EU and GU have broken strong support and are likely to go lower. GU should target 1.54 (50% Fibo) next and EU will target 1.2988 – 1.2995 (200 dma + 50 dma). I have therefore entered short as follows:
Short $30/pip EURUSD @ 1.3038, SL 1.3095
Short $30/pip GBPUSD @ 1.5450, SL 1.5490.
The long yen pairs remains.