AUDUSD 18.01.2013 trade result

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This was a trade which really took its time to reach the intended target. 5 trading days to be exact. Well the wait was well worth it. From my posting dated 14.01.2013, I had indicated that I had already shorted the AUDUSD. My target was 1.0490. After 5 days of trading, the price did indeed go to 1.0490 and has since been trading in the 1.0490 – 1.0565 box.

The box method or the fish tank which some students call it is a powerful methodology which indicates the high possible ranges that price would be trading in any time frame. The key to knowing the correct box is practice.