The Trade:
- Pair: GBP/CHF Short
- System: Squeeze setup on 4 hour chart.
- Date: April 8 2008 7:22am
- Entry: 1.99436
- Stop: 1.99940 (50 pips)
- Target: 1.98940 (50 pips)
- Reason: The squeeze indicator fired off a signal on the 4 hour chart. I entered the trade as soon as the squeeze bar was triggered. Since the histogram was showing red and growing below 0, I decided to enter the trade short.
The Result:
- Date: April 8 2008 11:05am
- Total Pips: -250
- Profit/Loss: $248.16
- Trade executed to plan? Yes
- Rating: 5
- Outcome: One of those trades where the timing was wrong. Just before there was strong downward pressure on the pair and it had spiked to my eventual target point. But by the time I entered the trade, the pullback was on. And due to the relatively large spread on this pair, I just managed to hit the stop I had set. Its currently trading off its highs. But I am happy the trade was executed to plan and I did not change the stop loss in anyway.
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