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LewisGlasgow
Apr 20, 2017 12:36 PM

EUR/GBP - Pattern Confluence Long

FX:EURGBP240
Euro Fx/British PoundFXCM

Description

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What's up everyone, here we have EUR/GBP with a bullish butterfly pattern inside of a bullish AB=CD pattern on the 4h chart.

I'd like to thank my good mate tradingview.com/u/KyleMcQuade/ for spotting this setup.

This is an excellent trading opportunity with over 1:4 risk to reward.

The D point of both patterns complete at 0.81500, this has proven to be a crucial turning point in the market.

Time completion of the AB=CD is off but the setup as a whole looks great.

If you want more trading inspiration, follow me on social media :)
lewisglasgowlewglasgowsixfigurecapitalsix000Bullish ButterflyBullish AB=CDAB=CD
Comments
AkashGaur
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Looking at this for a long term position. Hopefully not buying the top again LOL
LewisGlasgow
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@Fxtoronto, hahaha that looks good mate, keeping an eye on a few formations but this one caught my eye.
AkashGaur
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@LewisGlasgow,

You nailed the entry i was just looking for break of that low before buying since this was a very long term trade but now i have a more precise entry.
LewisGlasgow
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@Fxtoronto, this is why we chart as a team ;) see how it plays out by next week.
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