NZDUSD has been on an uptrend. It has broken out of a downtrending channel. As I am expecting the uptrend to continue upon retest of the trendline support, I am placing buy limit order at the 61.8 Fibonacci retracement level of the upswing. Stop loss is just below the swing low. The take profit target is set at the swing high. I will cancel the pending order if there would be a new swing high. Trade details are as follows:
Trade Setup: TCT-61.8
Price Entry 0.68046
SL 0.67486 | SL pips 56.0
TP1 0.68790 | TP1 pips 74.4
RRR1 1.33
Trade Setup: TCT-61.8
Price Entry 0.68046
SL 0.67486 | SL pips 56.0
TP1 0.68790 | TP1 pips 74.4
RRR1 1.33
Order cancelled:
New swing high. (December 2)