Bullish Butterfly EURUSD Daily

١٧ أكتوبر

Looks like EURUSD is forming a Bullish Butterfly pattern as the Dollar strengthens across most pairs. I'm looking for the pair to continue decline into support around 1.0575-1.0675, consolidate and possibly dead cat bounce before proceeding towards the 1.05 range. I'm also looking for the 14-period RSI to enter oversold territory during this time, which I project may go through the end of November.

I'm currently already short, having racked up ~300 pips. My current stop loss is about 150 pips trailing.