Short 1 (200) EURCHF @ 4905
Stop @ 5015 (-110)
Target @ 4780 (+125)
Squeeze box trade. Nice bounce off the bottom of the box, what I like to see!
Click above for larger image
Approximately 1:1 risk reward so not a huge trade but worth taking. I really like the fact that Oanda allows me to take these fractional lots.
Sold it on the breakdown and placed limit at the target which was a previous support point on the 1 hour chart. I have been finding that playing the squeeze box to the next support/resistance level is usually the best way to go. I was tempted to close the position at the first retracement, but I stuck with it and it paid off +125 pips on this trade.
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