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Alexander_Nikitin
Sep 2, 2018 12:32 PM

Audnzd. Butterfly 

Australian Dollar/U.S. DollarFXCM

Description

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:
Comments
huangyixiong
ur title put AUDNZD, Graph is AUDUSD. fyi
Alexander_Nikitin
@huangyixiong, it is audusd. the description says it is audusd as well.
rhux57
@Alexander_Nikitin, he means title not description
janne0536
this was awsome :D
Alexander_Nikitin
@janne0536, you are welcome:)
forexfox1
nice chart reading,i think it will go to 0.73000 today after the news and may be continue to 73500
Alexander_Nikitin
@forexfox1, It may go there:)
forexfox1
SirAyrton
It was a good forecast,it seems a perfect butterfly bullish pattern, I think it's going to close near 0.7264.
Enjoy your pips!
Alexander_Nikitin
@SirAyrton, thank you
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