NZDUSD has been on a uptrend. It recently broke out of the trendline support. As I am expecting a pullback, I am placing a sell limit order. Stop loss is just above the X point while the take profit target is set at the 61.8 Fibonacci retracement level of the leg AD. I will cancel the pending order if price goes to TP2 before it gets triggered. Trade details are as follows:
Trade Setup: Bear Bat
Price Entry 0.65747
SL 0.65849 | SL pips 10.2
TP2 0.65508 | TP2 pips 23.9
RRR2 2.34
Trade Setup: Bear Bat
Price Entry 0.65747
SL 0.65849 | SL pips 10.2
TP2 0.65508 | TP2 pips 23.9
RRR2 2.34