slindstr

EURCAD Messy Bearish Butterfly 4 Hour Chart

Short
FX:EURCAD   Euro / Canadian Dollar
I'm calling this a "Messy Bearish Butterfly" because B isn't quite at 0.786, but when we hit the 1.27 extension there's a good chance that there will be a pullback based on RSI .

That being said, I'd only expect the pullback to hit the 0.886 because the Euro is stronger than the Canadian Dollar .

I'm going to try out this bearish butterfly with a tight stop at 20 pips above the 1.27 1.2367 and a target just short of the .886 at 1.4249:

SELL @ 1.4347
BUY @ 1.4367 (SL)
BUY @ 1.4249 (SL)
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Risk: 20 pips
Reward: 98 pips