GBP/NZD – Buy Limit

 

I don’t trade this pair often, but I do end up drawing on pairs I don’t trade frequently.

Even though this is not a great swing to draw a fib retracement on, I used the 61.8 level, along with an earlier level I gave some technical weight to as a potential buy limit area.

It turned out to be a gain, with a nice run afterwords that could have yielded additional profit.

 

note: the take profit of about 20 pips was pre-set. This is an hourly chart that wasn’t monitored during the trade

 

gbpnzd-h1-fx-choice-limited

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