POTENTIAL BULLISH BUTTERFLY ON 1H AUDUSD!
Hello trades i hope you all started this trading week with some profits.
Let's see this potential Bullish Butterfly pattern on AUDUSD on 1H timeframe.
TECHNICAL OBSERVATIONS
1.Price is under 200EMA so price is more likely to go lower to the next significant S/R level.
2.The advanced pattern completion of the bullish Butterfly pattern coincides perfectly with the next significant S/R level based on the price structure.
3.RSIin oversold area.
4.As price crossed below Ichimoku clouds and we are already in oversold area at RSI indicator at 1H timeframe is more like we will see a re-test of the Ichimoku clouds as multiple correction and we will have the advanced pattern completion to go long as shown.
POSSIBLE LONG TRADE
ENTRY PRICE AT 0.79200
STOP LOSS 0.79000
FIRST TARGET T1 AT 0.79720
SECOND TARGET T2 AT 0.80000
THANKS FOR SUPPORT!
KEEP FOLLOWING FOR MORE PROFITS!
Let's see this potential Bullish Butterfly pattern on AUDUSD on 1H timeframe.
TECHNICAL OBSERVATIONS
1.Price is under 200EMA so price is more likely to go lower to the next significant S/R level.
2.The advanced pattern completion of the bullish Butterfly pattern coincides perfectly with the next significant S/R level based on the price structure.
3.RSIin oversold area.
4.As price crossed below Ichimoku clouds and we are already in oversold area at RSI indicator at 1H timeframe is more like we will see a re-test of the Ichimoku clouds as multiple correction and we will have the advanced pattern completion to go long as shown.
POSSIBLE LONG TRADE
ENTRY PRICE AT 0.79200
STOP LOSS 0.79000
FIRST TARGET T1 AT 0.79720
SECOND TARGET T2 AT 0.80000
THANKS FOR SUPPORT!
KEEP FOLLOWING FOR MORE PROFITS!
Comment:
Price as expected...It's not a magic it's knowledge about the market..
Trade active
Trade closed: target reached:
First target is at the books...Happy profits to everyone...Let's see our target 2...