GBP/USD Bullish Butterfly Pattern
Well finally, a long position for GBP/USD. A bullish Butterfly
Pattern has emerged on the 1 hour time frame, and with a
close above 1.3425 you can enter a long trade.
Although there is no real major news to be released for today
beware of volatility as some European countries have a
national holiday.
This pattern is invalid with a close below 1.3359 (3.140
of BC)
Trade 1 long (RvR ratio 2.71)
Entry: Close above 1.3425
S/L: 1.3387 (2.618 ext of BC)
T/P 1: 1.3476
T/P 2: 1.3528
Trade 2 long (RvR ratio 2:1)
Entry: Close above 1.3569
S/L: 1.3507
T/P 3: 1.3569
As always, scale out your profits and adjust stop/loss to
suit your personal risk management profile.
Happy trading
Pattern has emerged on the 1 hour time frame, and with a
close above 1.3425 you can enter a long trade.
Although there is no real major news to be released for today
beware of volatility as some European countries have a
national holiday.
This pattern is invalid with a close below 1.3359 (3.140
of BC)
Trade 1 long (RvR ratio 2.71)
Entry: Close above 1.3425
S/L: 1.3387 (2.618 ext of BC)
T/P 1: 1.3476
T/P 2: 1.3528
Trade 2 long (RvR ratio 2:1)
Entry: Close above 1.3569
S/L: 1.3507
T/P 3: 1.3569
As always, scale out your profits and adjust stop/loss to
suit your personal risk management profile.
Happy trading
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