A nice buy setup based in structure. Price has broken a resistance level and has retraced and tests a key support zone at the 0.618 of the impulsive leg which broke that resistance. NZDUSD is about to rally and head towards 0.69000 zone. Stoploss and profit targets as shown at the chart.
Comment
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This is working great till now.. If price breaks that resistance level, it has great chances to reach our initial profit targets.
Trade closed: target reached
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Move stoploss of second position at breakeven. NZDUSD has a lot of potential to move higher.
Trade closed: target reached
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A very nice second trade ended with a 2.8:1 profit..