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A squeeze box trade opened up yesterday and I just closed the last of it. Short 1 (200 units) GBPJPY @ 5726 Confidence level: 6/10 As soon as I put the trade on, price moved swiftly away from the box, then stalled. I was up about 100 pips at one [...] Squeeze Box Trade First Position: Long 1 (100) GBPJPY @ 4910 Second Postion added looking for a bounce off the 4800 level: Long 1 (100) GBPJPY @ 4813 Click above for larger image Stopped out on both positions for a loss of -54 pips and -162 pips for [...] Just one trade this week so this is my weekly review/trade review. Trading still not going so well so I’m taking it easy. Short 1 (200) CADJPY @ 7164 This was a squeeze box entry. Some notes on the trade: Looks like a good downward triangle on 1 H, reward:risk is 2:1 Short 1 (200) EURCHF @ 4905 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 [...] This was another squeeze box trade. It took a little while for this trade to come to fruition but it was worth the wait. Short 1 (200) @8300 Click above for larger image What gave me confidence to stay in this trade was the fact that price was hugging the bottom [...] I tried something a little different this time. A squeeze box formed as the 200 EMA and the 62 EMA started to come together. This time, I dropped down to the 5 minute chart and drew another squeeze box. I then took the breakout of that box as my entry signal. Short 1 [...] I had to sit on this one for awhile but it just goes to show that it pays off to wait for the market to do it’s thing. As long as the stop isn’t hit, or something fundamental doesn’t change dramatically, then you just have to stay in. Long 1 (200 units) AUDUSD @ 6943 Long 1 (100 units) EURUSD @ 4244 Squeeze Box Breakout. As you can see, Long AUDUSD @ 6943 Click above for larger image A small 100 unit lot of EURUSD @ 4244, Stop @3997, Limit @ 5266 to take profit if the market makes a large move in my favor. The setup was a squeeze box. Click above to see larger image Squeeze box trade. Short 1 (100) GBPJPY @ 3390 Click above for larger image Closed trade near previous support @ 3290, +100 pips. It was a pretty good exit, price kept bouncing off that level. Squeeze box trade. Long 1 (200) CADJPY @ 7483 Click above about larger image Got stopped out, that’s how the trade goes. Arrrgh! No it’s not International Talk Like a Pirate Day yet but it’s the only thing I can say after exiting this trade. Don’t get me wrong, I made money so I’m not complaining, but I could have made more, much more. Squeeze box breakout. Long 1 USDCAD @ 2625 Click above for larger image The stop was hit. It was set too tight, I am going to start experimenting with putting the stop in the middle of the box. Not a bad little trade. Long 1 AUDUSD @ 6894 Took profit at 6969 (+75) Breakout box is on the left. I have to thank the Rob Booker webinar folks for alerting me to this trade. click for larger image |
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Forex trading is a high risk endeavor and may not be suitable for everyone, |
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