A SurpriseBox was formed on the CAD/USD 4h chart 200sma (red line). This box was broken at 8am est today. A position was initiated to the long-side. It was a cup and handle formation. It went fast toward our target, over 80 pips in less than four hours. Got out of the position with a profit.
Disclaimer: I trade the patterns depicted either at the entry point stated (e.g. trading channel, breakouts) or afterward. Although my trades are based on technical analysis, trading forex is a risky activity and may produce significant monetary loss. I only make public the trades that I am considering to make, or made and the rational for them. Not intended necessarily as trading recommendations.
