Risk: 230 pips
Reward: 230-400 pips
I missed a beautiful entry point last night around the 133 level, but that's the way it goes. I think the dip over the past 6 hours provides an adequate entry point. I'm placing my stop well below the obvious hourly support at around 133 because I want to give my trade a little room and don't want to get stopped out because of a false break. Because the amount of risk (230 pips) is a little more than I'm usually comfortable with, I'm taking on only 2 lots. If the pair dips further and forms some support above my stop, I'll buy another 2 lots.
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