EURCAD Surprise Squeeze – Still watching after false starts

EURCAD Surprise Squeeze 19JAN09  – close to breaking short on 60M and also Squeeze box set up on 4 hour.  Also note the gap S/R levels and possible danger of consolidation at the lower trendline in green. 

21JAN09 – 22:08 I tried a few stabs – got stopped out twice.  I am still watching this one but would not be surprised to see it retrace.  I am not as sure about the direction now vs. Monday.

20JAN09 – I took a small stab at this Tuesday evening around 18:30 est when it closed below the 144 on the 60M.  It almost stopped me out but then reversed nicely down to the bottom of the surprise box at 1.6321.  Placed a SL to protect 25 pips.  Stop was hit as it touched the 144.  I am happy with that result due to expected market swings due to innauguration tomorrow.  If it closes below the box and I catch it, I’ll take another shot with a small lot. 

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