The Trade:
- Pair: USD/CHF Short
- Date: April 10 2008, 3pm
- Entry: 1.00108
- Lots: 10
- Stop Loss: 1.00608
- Target: 0.99608
- Reason/Setup: This trade was entered based on the squeeze setup on 4 hour chart. I entered this setup about 2 candles late and I was lucky to have entered at the right time. The squeeze indicator has signaled a short entry at 6am, but I didn't enter the trade until 3pm. In the 2 candles I missed, there was a bid drop as well as a decent pullback. The chart indicates where I entered and exited the trade. The trade was also confirmed by the A-MACD setup which contributed to me taking the trade late.
Result:
- Date: April 09 2998, 9:45pm
- Total Pips: +500
- Profit/Loss: $501.98
- Trade executed to plan? No
- Rating: 3
- Comment: I was lucky to make any money on this trade. I entered significantly late, and in fact, had I entered in the previous candle, I would have been stopped out. If I cannot enter at the start of the squeeze trigger candle, I should not take the trade. Yes this trade was also signaled by the A-MACD system, but the signal wasn't clear. This is what I would call a low probability play.
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