2018Jun08 EURUSD H4 Trend Continuation

EURUSD has been on an uptrend. There is a double bottom with a broken neckline and new swing high. As I am expecting the uptrend to continue, I am placing a buy limit at 1.17240 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 recent swing high. The trade details are as follows:

Trade Setup: Trend Continuation
Price Entry 1.17240
SL 1.16119 | SL pips 112.1
TP1 1.18398 | TP1 pips 115.8
RRR1 1.03

Orden cancelada:

I am manually cancelling this setup as price has been showing lower highs recently.