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glennmercer

Long EURAUD: Butterfly Complete at Trendline Support

Long
Euro / Australian Dollar (FX:EURAUD)  
glennmercer Updated   
FX:EURAUD   Euro / Australian Dollar
Trend Lines Butterfly Bullish Butterfly confluence PRZ pivot Pivot Points missedpivot missedpivots glennmercer EURAUD EUR aud Harmonic Patterns
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trendline butterflypattern bullishbutterfly confluence prz pivot pivotpoints missedpivot missedpivots glennmercer euraud eur aud harmonicpatterns
EURAUD has entered the PRZ of a bullish butterfly pattern. A strong trendline will provide support at the entry. A missed pivot cluster lies above price around .618CD which provides a target with a large R/R. SL is placed below S/R.

Confluence in the PRZ:
  • Bullish butterfly pattern completion
  • Long term trendline support
  • 1.27AB=CD
  • 1.618BC projection
  • Missed pivots cluster above price

Trendline Support:
snapshot

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Trade closed: stop reached:
SL Reached: -94 Pips

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