FXP Follow Up

FXP was a long trade idea that did well, we expected and got a pullback on Friday covered in this post.

This morning FXP is looking interesting as China (as mentioned last night) has a large trade deficit, the largest since 1989.

FXP looks interesting here,  note Friday's pullback to the 10-day yellow moving average (this is what I was looking for in previous posts) I would prefer a stop that is wide enough to cover the gap around $22.25-$22.80, of course I wouldn't want a stop right at the obvious support of the gap, but perhaps a bit below. I'd prefer fewer shares and a wider stop, you can always add as the trade moves in your favor. If that gap remains unfilled, it will be a very bullish breakaway gap (as it is thus far). FXP is also set for a long crossover on my crossover screen above.