$AUDUSD Box trade – Support Becomes Resistance

$AUDUSD Box trade - Support Becomes Resistance

A great example today of a trend line break that gave a nice Box set up. The Box was positioned after the huge black candle that broke the trend line. The idea was that if price retraced, it would hit the area of previous support and that could very well act as resistance, allowing the move that broke the trend line to continue…otherwise known as a pull back into a resistance area! This is probably my favorite Box trade set up!


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s