NZDUSD is coming up on a support that was recently tested quite a few times on the 4H chart, it looks to be in the middle of a retracement but is not even at the .5 level yet so it potentially has a bunch of room, there is a prior resistance between .618 and .764 that should make for a decent short target.
I would take 1/2 of my position off at .65550, and see if I can't ride the other half down to the next TP level on the fib retracement, my initial stop will be just over .66200 (prior close) and if it break past the second support line ill set up a 5 pip trailing stop. Shoot to maintain 4/5 : 1 R:R
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I would take 1/2 of my position off at .65550, and see if I can't ride the other half down to the next TP level on the fib retracement, my initial stop will be just over .66200 (prior close) and if it break past the second support line ill set up a 5 pip trailing stop. Shoot to maintain 4/5 : 1 R:R
Update status
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