EURUSD

Some movement in the EURUSD last night, enough to trigger my pending BUY-STOP order, but not enough to generate any profit. The order was set to break-even and exited with no profit, and no loss. 

This move seems to be the result of some news from Europe concerning Greece, but obviously it wasn't *that* exciting.

You may note that I still have a pending SELL-STOP order at the bottom of the blue rectangle. This is set to expire at the end of the week, so I'll probably just leave it there.

Looking at the H4 chart (not pictured), it looks like we're just on the verge of breaking some longer term resistance. 

Below is the EURUSD 5 minute chart. We can see some nice consolidation here (in blue), so I've gone ahead and placed BUY-STOP and SELL-STOP orders above and below. The stop-loss for both orders are set on either side of the blue rectangle.

This is probably not a great trade idea, but this is a demo account and I'm just practicing trades. The last few days have seen the price action pick up around about the start of the London session, and it just whip-saws back and forth. If I'm lucky, the trades will trigger and break-even. However, if I'm extremely lucky, we might see a nice breakout in one direction or another.

I'm hoping that there will be a breakout based on the fact that this is the highest price we've seen for 10 days and perhaps some tension has been unleashed. Also, this consolidation pattern looks fairly contained.

My prediction is more whip-saw action and a possible small loss.

Then again, in Forex, pretty much the opposite of what-ever I think tends to occur.