NZD/USD: Daily 4-hour
Short
Entry at .8340
Stop loss at .8405
Take profit at .8220
Very simple trade. I like playing S|R levels, and .8340 has held pretty strongly in the past. I like the reward-to-risk ratio, its about 120 pips to 65 pips, giving me a nearly 2 to 1 ratio. I’m only risking 1% of my account, because I do realize that its an ascending channel. If we see a daily candle close above .8340, I might just close my trade and take a smaller hit.