Finally, A Winner!

I think I was on a 3 trade losing streak until today. I actually could have taken this trade to all the way to R2 and slightly beyond. In fact, I left close to 40 pips on the table. Clearly I could learn to set the profit targets better, but I'll stick to my conservative approach for the time being.

The Sterling fell on below expected US Trade Surplus in February of $65.7 B, which is down from January's $68.59 B. It found support at the pivot point and and since settled under the 38.2 Fib retracement.

There's a plethora of US data being released tomorrow:
US Retail Sales Ex Autos (Mar) 13:30
US Retail Sales (Mar) 13:30
US Import Prices (Mar) 13:30
US Export Price (Mar) 13:30
US Initial Claims (8th Apr) 13:30
US Univ of Mich Sent.(P) (Apr) 14:45
US Business Inventories (Feb) 15:00

With this in mind, I expect the market to sit tight, be a bit range bound... could be a good time for harvesting pips. My trade will hopefully be triggered and closed by the time the news comes out. I'm buying near the 38.2 Fib retracement at 1.7520, with at T/P at 1.7540 and a stop-the-bleeding at 1.7500.