A SurpriseBox near the 100 sma and 200 sma had been formed on the Aud/Nzd eight hour chart. This box broke to the upside today with a gap at the begining of the week. A long trade position was started. A reasonable target is the 1.3400 area corresponding to a recent high. A stop will be placed near the 1.3150, area just below the dogi inferior to the gap.
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.
