Potential SHORT on DAILY BNBGBP - BUTTERFLY PATTERN
At the moment we have a butterfly pattern completed at point 'D' with a 1.272% extension from A-B-A.
I'm waiting for a potential entry on the 4hrly or a sign that the pattern will hold. There is currently potential for a double top at structure or more conservatively for a 2618.
Targets are A-D retracement at 38.2% and 61.8%
Stops 1.618% extension A-B-A and to adjust after target 1's have been hit.
I'm waiting for a potential entry on the 4hrly or a sign that the pattern will hold. There is currently potential for a double top at structure or more conservatively for a 2618.
Targets are A-D retracement at 38.2% and 61.8%
Stops 1.618% extension A-B-A and to adjust after target 1's have been hit.
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