kjaerschjunk
Long

Triangle bottom reversal

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
157 0 0
Since the biggest 3-day decline for $NZDUSD since 3/6/2012 I have been looking for the right time to enter long the retracement of the precarious fall.

NZDUSD             has traded in a descending range lately and friday's confirmation of the triangle lower line with long lower shadows digging down to the major reversal zone once again with confirming bullish momentum , is a pretty good risk reward trade with stop loss below 0.775 and take profit at about 0.80. Risk-reward: 1:4.
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