- A potential bat pattern might be forming on the daily chart
- RSI on it's way to oversold level
- R:R at 1.15 (TP1) and 1.9 (TP2)
- I have placed SL at 0.834, much lower than the usual 5-20 pips below X leg
- 0.834 is a strong daily support level
As the SL is much bigger at about 105 pips, please adjust lot size to fit your risk appetite.
NOTE :
- EU summit is on 29 April to discuss Brexit on 29 April, 2 weeks from now
- Volatility is expected
However, I am looking at another possible butterfly pattern that is emerging on daily chart.