Euro / U.S. DollarShort
Bearish Butterfly Pattern completely formed
Updated
Bearish Butterfly has been completely formed on the 1d time frame .. and
price is now consolidating on the 1h time frame ..
on the 1w time frame, price has reached the down trendline announcing the reversal ..
to be extra confirmed, we will wait for price to pass the PRZ down which is the consolidating on the 1h chart..
entry level 1.22100
stop loss 1.23722 20 pips above the PRZ ( which is above point X)
tp1 1.20174 0.382 of A-D
tp2 1.18406 0.618 of A-D
price is now consolidating on the 1h time frame ..
on the 1w time frame, price has reached the down trendline announcing the reversal ..
to be extra confirmed, we will wait for price to pass the PRZ down which is the consolidating on the 1h chart..
entry level 1.22100
stop loss 1.23722 20 pips above the PRZ ( which is above point X)
tp1 1.20174 0.382 of A-D
tp2 1.18406 0.618 of A-D
Order cancelled
D leg passed the potential reversal zone .. might form a crab .. but its better to wait for the ECB report tomorrow
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.