Trade closed: stop reached: You will have to play this chart out a few times to see into the future more clearly. This was a trade highly affected later on by the ECB meeting. General market sentiment at the time, even among institutional traders, was not for upside Euro action. The odds were in our favor but the market surprised all by initiating a strong short squeeze in the Euro. Since market sentiment was so heavily in one direction, if a central bank surprises the market with a comment, then a large move can be seen (like this one) because the balance of short sellers and buyers tips greatly and rapidly.