Milan Metro Map on Although this audjusd chart may seem suspiciously cherry-picked for its beauty and doublepressure follow-through, this type of price action, and the box breakout in particular, is a very common sight, as any modest backtest will confirm. As to the technicals, the top barrier of the box was easily found. The 2-3 element on the other side was a higher double bottom with the low at 1 ; the 4-5 progression was a classic squeeze between the 25ema and the top of the box. Note also how the 80-level played a crucial role in the bearish defense. You can enter on the break of the box and set your stop below the last low in the squeeze prior to entry. (A buildup element of 4 pip in span will demand a 7 pip stop, which includes a break on either end and a 1 pip spread.) You can place your stop also below the absolute low of the squeeze, but there is little point in setting it wider still (hope-and-pray tactics) . Milan Metro Map 2016.
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