Long 1 (100 units) EURUSD @ 4244
Stop @ 3997 (-247)
Limit @ 5266 (+1022)
Squeeze Box Breakout. As you can see,
the market formed a range around the 62 EMA and 200 EMA and I was looking for a breakout from that level.
Click above for larger image
In hindsight, it probably wasn’t the best looking squeeze box. The 62 EMA and 200 EMA aren’t as close together as they should be. I also entered late, I should have been in on the first 1H candle that closed outside the box.
The stop was hit at -247 pips but since I only traded a 100 unit lot, my losses were limited to about only half of a percent of total equity.
On the whole, not a bad trade. It was a risk I don’t mind taking. Maybe I just need to take profit earlier on squeeze box trades.
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