Today’s trade idea is a pullback from the $AUDUSD into the previous supply and demand zone (shown by The Box in red). If price is rejected out of The Box, a sell trade will open with the stop level at the top of The Box and the profit level set at a reward to risk of 2:1. All this trading is done automatically by The Box EA! You place The Box, The Box takes the trades!
Today’s trade using The Box is the possible rejection of price if it retests the supply and demand area last tested on November 26th. If prices goes into the red box and is rejected, a short trade will open with a stop loss at the top of The Box and a profit target set to give a 2:1 reward to risk ratio. This is traded entirely automatically, you simply place The Box and The Box takes the trade!
Today’s Box trade idea will be triggered if the $EURUSD retraces into a so far un-retested Supply and Demand zone. If it does and is rejected back above, a long trade will open with the close below the box and a take profit based on the average daily range. No retest or no long rejection and no trade will be triggered.
Back after a short break with a sell idea on the $AUDUSD. If price gets rejected by the previous support that may now be resistance, then it may well move down an try and close the gap left over the weekend. The target has been set at the bottom of this gap. This trade also plays into a longer term $AUDUSD trend line short that you can read about here
This week’s Box trade on the $USDCAD has closed out a winner. The divergence we saw between price making a higher high in the Box, but the Wallaby stochastic failing to follow through, opened a short trade as price closed below the Box. The stop loss level of the Box remained in tact and price movement went on to reflect the sentiment of that original divergence signal. The end result was a nice 36 pips of profit.
Today’s Box trade idea is a short if divergence is seen as price tries to retest this previous high. A close below the Box, with divergence in the Box, will trigger that trade.
Having Internet access problems this week, so hopfully this post will make it!