EURAUD Beautiful Bearish Butterfly Pattern Complete On Weekly TF
Updated
Pattern is complete. i am awaiting some technical confirmation before taking this pair short. possibly next week i will update this thread once some technical confirmations are met until then stay tuned.
Our target in harmonic patterns is always the 38.2 of the main swing. we can target the 61.8 if we trail our SL correctly. this pattern is a type 1 reaction harmonic pattern and therefore we only target the 38.2 at the moment. 61.8 can be targeted once a type 2 reaction comes in play in the future. Even if we target the 38.2 the RR on this one is quite healthy, note the red line of the chart represent the SL level. cheers and stay tuned for more updates
Our target in harmonic patterns is always the 38.2 of the main swing. we can target the 61.8 if we trail our SL correctly. this pattern is a type 1 reaction harmonic pattern and therefore we only target the 38.2 at the moment. 61.8 can be targeted once a type 2 reaction comes in play in the future. Even if we target the 38.2 the RR on this one is quite healthy, note the red line of the chart represent the SL level. cheers and stay tuned for more updates
Trade active
INSTANT ENTRY AT AROUND: 1.60700 LEVELSL: 1.65000
TP1: 1.53000
ANY UPDATES WILL BE AVAILABLE WHEN NEEDED. THE PATTERN IS COMPLETE AND HAS GIVEN THE REQUIRED TECHNICAL CONFIRMATION. ITS A LONG TERM PATTERN WHICH ARE GREAT TO TRADE. HAPPY TRADING AND HAVE A GOOD WEEKEND
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