System:
Trade based on squeeze play setup on 4 hour chart.
Reason:
The squeeze indicator signaled a buy at the start of the 6pm candle. I immediately entered tis position long at 1.5976. I then placed my stop 55 pips away (not sure why) at 1.5921 and the profit target was 50 pips away at 1.6026.
Lots: 5
Entry (Long): 1.5976
Stop Loss: 1.5921
TP: 1.6026
Right from the beginning the price moved in my favor and it was just a matter of time before it hit my target point. I love entering trades like these where the price moves immediately in my direction validating the trade. The target point was hit a little past 1am on April 8th.
Total Pips: +250
Total Profit: $245.93
Rating:
I will rate this a 5 since I followed it to the book. I set the stops and TP's immediately and never changed them.
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