System C's NZDUSD trade reason
Gold arrow: Entry price
Red arrow: Stop loss price
Green arrow: Take profit price
Trade Setup:
NZDUSD formed a channel in the hour 1 timeframe.
Trade confirmation:
Price broke a trendline.
Trade reasons:
1) price broke trend line
2) Superb risk-reward ratio, ( 1- 1.23 )
3) price also rejected the top of the main channel
Take profit reasons:
1) Placed it above the channel for safety precaution
Stop loss reasons:
1) Stop loss level was set to be above the main channel
2) If price breaks channel line it might be a false break-out so we have to place it above the line
3) We cannot place stop loss any higher because the risk- reward ratio will not be good and thus this trade would not be valid
Gold arrow: Entry price
Red arrow: Stop loss price
Green arrow: Take profit price
Trade Setup:
NZDUSD formed a channel in the hour 1 timeframe.
Trade confirmation:
Price broke a trendline.
Trade reasons:
1) price broke trend line
2) Superb risk-reward ratio, ( 1- 1.23 )
3) price also rejected the top of the main channel
Take profit reasons:
1) Placed it above the channel for safety precaution
Stop loss reasons:
1) Stop loss level was set to be above the main channel
2) If price breaks channel line it might be a false break-out so we have to place it above the line
3) We cannot place stop loss any higher because the risk- reward ratio will not be good and thus this trade would not be valid