BEARISH BUTTERFLY PATTERN COMPLETION Short

FX:EURAUD1D

Euro Fx/Australian DollarFXCM

Description

⋅ Jun 2, 2015 2:49 PM

Here with have a nice bearish butterfly pattern where price also meets structure (Previous support/resistance).

Butterfly Harmonic Patterns

Comments

timwest

⋅ Jun 2, 2015 3:03 PM

Is it a short now or when time reaches the box you have listed? What stop do you use? Target 1.39496?

KamalFX

⋅ Jun 2, 2015 3:36 PM

Yes it is a short now as price hit the 1.618 level. Reason why the box is there is because I had this set up last week. Unsure whether to place my stop just above structure at 1.44442 or just above structure at 1.48000, what are your thoughts? And yes my target is around the 1.39496 level.