2018Jun10 GBPAUD H4 Trend Continuation

GBPAUD is on a recent uptrend. There is a double bottom with a break of the neckline and formation of a new swing high. As such, I am placing a buy limit at 1.75774 which is the 61.8 Fibonacci retracement from the right bottom to the swing high. Stop loss is just below the lower (left) bottom. The take profit target is at the swing high. I will cancel the pending order if price goes to TP1 before it gets triggered. The trade details are as follows:

Trade Setup: Trend Continuation
Price Entry 1.75774
SL 1.74674 | SL pips 110.0
TP1 1.77345 | TP1 pips 157.1
RRR1 1.43

Trade attivo:

My buy limit order got triggered. (June 12)

Trade chiuso: obiettivo raggiunto:

TP1 hit! :) (June 14)