[TW] 2012-08-13 Long EUR/USD by Bijoymj
Chart : 4 Hour
Long or Short: :Long
Entry Point: 1.2250 (At Channel bottom)
Stop Loss: 1.2150 (At previous low)
Profit Target/s: 1.2500 (At Channel Top)
Reward-to-risk Ratio: 2.5 : 1
Risk percentage: 2 %
Indicators : Stochastic, Channels
Trade Rational: Seeing the formation of an upward equidistant channel in the 4 hour chart and price is reaching it’s bottom. Also Stochastic is oversold and a bullish divergence is in formation.
Trade adjustments. Presently Nil. If any adjustments are made, that will be updated through this thread.