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joelduque

2018Oct31 NZDUSD H1 Double Top-2618

Short
New Zealand Dollar / U.S. Dollar (FX:NZDUSD)  
joelduque  
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Fibonacci Chart Patterns Double Top or Bottom
1
0
fibonacci chartpattern doubletoporbottom
NZDUSD has been on a downtrend and formed a double top with broken neckline. I am looking to enter at the 61.8 Fibonacci retracement level of the 2nd top to the swing low of the broken neckline. Stop loss is just above the 2nd top. The take profit target is set at the 61.8 Fibonacci retracement level of the upswing. Trade details are as follows:

Trade Setup: Double Top-2618
Price Entry 0.65545
SL 0.65758 | SL pips 21.3
TP1 0.65061 | TP1 pips 48.4
RRR1 2.27
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