NZDCHF has been on a recent downtrend. The bears have been more aggressive than the bulls leading to the formation of a descending triangle. Price has opened for the week with a gap down, effectively breaking the horizontal support. I am placing a sell limit order at that level, expecting it become a new resistance and hold upon retest. Stop loss is based on ATR x 2. The take profit target is set at the 50% Fibonacci retracement level of the upswing. Trade details are as follows: