The Trade: EUR/USD Short
Reason/Setup:
This trade was entered based on the squeeze indicator on 1 hour chart. Since my previous entry in this pair got stopped, I did not place a stop loss for this pair and decided to do it manually. The target was set 30 pips away. I did enter this trade a little late and hence missed out on 12 pips.
Trade Details:
- Date Entered: April 17 2008, 11:55am
- Entry: 1.58779
- Lots: 10
- Stop Loss: No stop loss.
- Target: 1.58479
- Date Closed: April 18 2008, 3:30am
- Result: Pair hit target point.
- Total Pips: +300
- Profit/Loss: $300
- Rating: 3
As it usually happens, as soon as I entered the trade, the pair moved higher. At one point, I was down almost 70 pips. But I still held on as the indicators kept saying the price is bound to move lower. And I was correct. Pretty soon, the price action reversed, and hit my target point. Too bad my target was very small as the pair continued to move a lot lower.
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