USDCNH Hits Top of Price Channel, Sets Up Potential 1000 Pip Move With 5-to-1 Reward Risk Ratio

In this video we take a look at the daily chart on the USDCNH, and observe how price is now at the top of the channel going back to August 24 of this year. If price falls back to the bottom trendline of the channel, around where the 200 EMA also happens to be situated, the result could be a move of 1,000 pips. Even a very conservative stop-loss placement could offer a reward/risk ratio of 5:1 or even more.

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USDCNH Hits Top of Price Channel, Sets Up Potential 1000 Pip Move With 5-to-1 Reward Risk Ratio