A butterfly advanced formation has just completed on audusd. Butterflies are reversal patterns. They appear mostly in the end of a trend. The conventional targets are 0.382-0.618AD. I set the invalidation level as 1 to 1 target to risk distance.Should give a sharp reversal. When price consolidtades it is a sign of continuation. Don't hesitate to close the position in this case. Good luck
Trade active:
Comment:
TRADE MANAGEMENT. As price moved 0.5 of my initial risk the total risk is cut by half:
Trade closed: stop reached:
closed at stop. cut my loss short:
