EURUSD has broken out of its downtrend. Price was supported at 1.22408 (61.8 Fibonacci retracement from its swing low to swing high). I can also see an ascending triangle from which price broke out. As I am expecting the uptrend to continue, I am placing an aggressive buy limit order at 1.22952 which is the 61.8 Fibonacci retracement of the recent swing to swing high. Stop loss is just below the swing low while profit taking level is at the swing high.
Trade Setup: Trend Continuation
Price Entry 1.22952
SL 1.22300 | SL pips 65.2
TP1 1.23926 | TP1 pips 97.4
RRR1 1.49
Status/Remarks: TP1 hit! :)
Trade Setup: Trend Continuation
Price Entry 1.22952
SL 1.22300 | SL pips 65.2
TP1 1.23926 | TP1 pips 97.4
RRR1 1.49
Status/Remarks: TP1 hit! :)