Beautiful squeeze - killing retail traders!

FX:GBPAUD   英镑/澳元
1345 6
Over the past days, I have been curiously listening to traders who bought the GBPCAD way too early and got squeezed all the way beyond the last swing low.

It is a beautiful and classic setup and a good lesson to learn - just the fact that price is trading into a previous low is NOT a good enough reason to speculate on a turnaround. Our 20 SMA is keeping us out of any trouble nicely. It's such a simple rule but one that will always keep you out of troubles.

Price is setting up for a reversal but the amateur is as always too early and then once the real reversal happens, they are on the sidelines because they lost too much money and/or are emotionally burned.

This is such a classic amateur squeeze pattern and it's a beautiful learning experience.
I am trading Forex for 12 years and 6 years ago I quit my corporate job to travel the world

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Hi, do you see a upcoming similar case for xauusd as a possibility at 1250, end of June low?
Hello, is it needed just the break of 20sma?, or the candle have to be closed up the sms?. Thanks!!
Excellent explanation, we learn every day something new, thanks for sharing !!
Nice explanation good thing I was short and made 300 pips on way down now on way up looking to do the same.

Are you trading this ?
1.7000 would be a good place to enter since it broke SMA20. Plus, it looks like at resistance. Why did not you take that trade?
because thats not the level he was looking for
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