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TB305

LONG ON GBP/NZD

Long
British Pound / New Zealand Dollar (FOREXCOM:GBPNZD)  
TB305  
FOREXCOM:GBPNZD   British Pound / New Zealand Dollar
Chart Patterns Triangle Candlestick Analysis GBPNZD gbpnzdshort Symmetrical Triangle swingtrade
2
0
chartpattern triangle candlestick gbpnzd gbpnzdshort symmetricaltriangle swingtrade
Price has broken out of a symmetrical triangle on the weekly timeframe.

I am looking to capitalize off the breakout, price has not pullback or retracted just yet but if it does not then price should take off.

Here is the play I will be taking on this pair:

PAIR = GBPNZD
ORDER TYPE = BUY STOP (PENDING ORDER)
LOT SIZE = Micro lot (0.01) (0.02)
ENTRY PRICE = 2.02793
STOP LOSS = 1.99104 - 368 PIPS
TAKE PROFIT = 2.10213 - 742 PIPS
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