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.