System C's AUDNZD trade reason
Gold arrow: Entry price
Red arrow: Stop loss price
Green arrow: Take profit price
Trade Setup:
AUDNZD formed a significant channel in both Hour 1 and hour 4 timeframe.
Trade confirmation:
Price rejected top of the channel
Trade reasons:
1) price rejected channel
2) Superb risk-reward ratio ( 1 - 1.34 )
3) price broke key support level - Black Line
Take profit reasons:
1) Above the bottom of the channel
Stop loss reasons:
1) Stop loss level was set to be above the top of the key channel
2) If price breaks channel line it might be a clear up trend
3) So we will have to play safe and keep our levels right there.
Gold arrow: Entry price
Red arrow: Stop loss price
Green arrow: Take profit price
Trade Setup:
AUDNZD formed a significant channel in both Hour 1 and hour 4 timeframe.
Trade confirmation:
Price rejected top of the channel
Trade reasons:
1) price rejected channel
2) Superb risk-reward ratio ( 1 - 1.34 )
3) price broke key support level - Black Line
Take profit reasons:
1) Above the bottom of the channel
Stop loss reasons:
1) Stop loss level was set to be above the top of the key channel
2) If price breaks channel line it might be a clear up trend
3) So we will have to play safe and keep our levels right there.