System C's AUDUSD trade analysis
Gold arrow: Entry price
Red arrow: Stop loss price
Green arrow: Take profit price
Trade Setup:
AUDUSD formed a channel in the hour 1 timeframe.
Trade Confirmation:
Price rejected the top of our channel
Trade Reasons:
1) price reject top of the channel
2) Superb risk-reward ratio with 1 : 1.73
3) price is at a very key level of the chart
Take Profit Reasons:
1) Audusd is supposed to fall greatly since the beginning of the week.
2) We have set our take profits level to the half of that due to be safe.
Stop Loss Reasons:
1) Stop loss level was set to be above the channel.
2) If price break beyond the hour 4 high, we have to get out the trade.
3) if it is a false breakout and goes back down we still can’t take the risk as it will incur a very big loss
Gold arrow: Entry price
Red arrow: Stop loss price
Green arrow: Take profit price
Trade Setup:
AUDUSD formed a channel in the hour 1 timeframe.
Trade Confirmation:
Price rejected the top of our channel
Trade Reasons:
1) price reject top of the channel
2) Superb risk-reward ratio with 1 : 1.73
3) price is at a very key level of the chart
Take Profit Reasons:
1) Audusd is supposed to fall greatly since the beginning of the week.
2) We have set our take profits level to the half of that due to be safe.
Stop Loss Reasons:
1) Stop loss level was set to be above the channel.
2) If price break beyond the hour 4 high, we have to get out the trade.
3) if it is a false breakout and goes back down we still can’t take the risk as it will incur a very big loss