MrVolcano

NZDUSD - New impulse leg about to begin?

Long
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Pair has been in a corrective phase recently. Notice the LH and LL's at the fib retrace levels.

Seem's likely that there will be one more bull back to the Fib 50% (0.7104) or even 68% (0.7068) level, where I expect bulls to return. This could be a good opportunity to get in early and get a very good R/R as price will likely up to around 0.7300.

Daily Chart
Trade closed: target reached: Unfortunately my entry was just a bit too tight. Price didn't retrace back any lower and I missed the entry and a very good climb, which easily reached my target 2 days later with 200 pips and around 6R.