Another great example of break-out, pull back setup this time on Amazon.
As you can see in the daily time frame, amazon after spending three months on the consolidation area, after broke above the channel $788, and pull back to the level, respect the price action, now start to rise again.
The Original entry point was $790, stop loss level sat at $780. And nearest possible turning point is level $840. So risk to reward equal to the $10 to $50 means 1 to 5. Very clear, and clean pure price action for this chart.
Hopefully, you took this trade, and enjoy easy profit.
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