A SurpriseBox near the 100 sma and 200 sma was formed on the Aud/Nzd eight hour chart. This box broke to the upside a week ago with a gap. A long trade position was started. This position was going slowly toward the target. At present about half the expected move, target is 1.3400, trade started at about 1.3250 and now at 1.3325. I liquidated my position with a gain of 80 pips. Will evaluate when markets open if to re-establish my position till target with a higher stop.
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.
