System C's NZDCHF trade reason
Gold arrow: Entry price
Red arrow: Stop loss price
Green arrow: Take profit price
Trade Setup:
NZDCHF formed a small channel in the hour 1 timeframe.
Trade confirmation:
Price is at the top of our channel and might break further down.
Trade reasons:
1) price rejected channel
2) good risk-reward ratio, ( 1 - 1.37 )
Take profit reasons:
1) Take profit level was set to be slightly above the bottom channel to not over estimate market trend.
Stop loss reasons:
1) Stop loss level was set to be above the middle of our channel
2) If price breaks channel line it might go to a new high.
Gold arrow: Entry price
Red arrow: Stop loss price
Green arrow: Take profit price
Trade Setup:
NZDCHF formed a small channel in the hour 1 timeframe.
Trade confirmation:
Price is at the top of our channel and might break further down.
Trade reasons:
1) price rejected channel
2) good risk-reward ratio, ( 1 - 1.37 )
Take profit reasons:
1) Take profit level was set to be slightly above the bottom channel to not over estimate market trend.
Stop loss reasons:
1) Stop loss level was set to be above the middle of our channel
2) If price breaks channel line it might go to a new high.