The Trade: EUR/AUD Short
Reason/Setup:
This trade was signaled by the Squeeze indicator on 4 hour charts. I entered the trade as soon as the indicator was triggered. Both stop and target were 50 pips away.
Trade Details:
- Date Entered: April 16 2008, 2:07pm
- Entry: 1.6975
- Lots: 5
- Stop Loss: 1.7025
- Target: 1.6925
- Date Closed: April 17 2008, 2:10am
- Result: Pair hit stop loss.
- Total Pips: -250
- Profit/Loss: $234.30
- Rating: 4
The squeeze indicator was eventually right with the direction. I placed a tight stop than I should have (100 pips would have been more suitable). As it always happens, the pair move to hit my stop and then proceeded to move lower. The entry was a good one and I entered the trade as soon as the signal was given.
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