Setup Timeframe: 4H
Execution Timeframe: 1H
Risk: 2.85%
Reward: 6.76%
Reasons for Entry: Showing rejection of the 61.8% bullish fib, and broke through a bearish channel, and now has retested and bouncing back up off that channel line. Also USD looks weak across charts.
Reasons for SL Placement: Below the 78.6% level, below 1.05758 where there was some consolidation before it continued upward, and giving room for wicks tomorrow due to news.
Reasons for TP placement: The -0.27 fib extension level.
Execution Timeframe: 1H
Risk: 2.85%
Reward: 6.76%
Reasons for Entry: Showing rejection of the 61.8% bullish fib, and broke through a bearish channel, and now has retested and bouncing back up off that channel line. Also USD looks weak across charts.
Reasons for SL Placement: Below the 78.6% level, below 1.05758 where there was some consolidation before it continued upward, and giving room for wicks tomorrow due to news.
Reasons for TP placement: The -0.27 fib extension level.
Related Ideas
NZDUSD Long
MatthewLundgren
about NZDUSD