Kylan_Laymance
Long

Butterfly Pattern, EUR/AUD, 30min

FX:EURAUD   Euro Fx/Australian Dollar
Here we see a butterfly pattern completed on the Eur Aud 30 min chart.

We know that butterfly patterns often rally to the 1.618 extension of the BC             leg, so that is where our limit is at.

Our entry is at point B and our stop is at point D, giving us a 1.39 risk to reward.

I believe the rally will take place over the next few hours.

Thanks for checking us out, if you agree, please hit like and leave a comment, and always follow for more content that may help your trading.

Thanks guys, and Good Trading!
Interesting.... very interesting... I used to entry in point D and take profit at B (at least partially), then C, then A. Confirmation for D could be S/R, wedge, candle formation etc.
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