NZD/USD SHORT - Breakout of 4HR Range/Downtrend/Fib/Weekly

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
38 0
The pair has just broken out of a 1/4HR range it was trapped in at price support, it has just broken and closed below the range of support on the 1HR and 4HR charts. Price also bounced from a strong daily CTL which is part of a channel earlier last week and should be heading down to the trend line at the bottom of the channel. The weekly candle last week also closed very bearish , and the 4HR fib hit 78.6%, so i have placed my SL above swing high and TP at 161.8% fib extension level, which is also a weekly support level . This is a longer term trade.

TP @ 0.70514
SL @ 0.72273
R/R @ 2.05
Trade closed: stop reached
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