AUDNZD Trade Analysia
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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.