informedtrades
Short

Reward/Risk Ratio of 5.5:1 on NZDCHF

FX:NZDCHF   New Zealand Dollar/Swiss Franc
36 0 0
The challenge might be getting filled on this one, and what I'm wondering is whether price will come back to fill the order -- or whether a more aggressive order entry be warranted. Of course, I prefer to let price come to me, and so I'm sticking with 7520 as my entry point, as it is a resistance level that is also close to a 61.8% Fibonacci retracement level from recent swing high to swing lows. I've set my stop under the belief that today's high is a bullish checkmate that will not be breached, and so my stop is at 7540 and my take profit is at 7410.

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