Alexander_Nikitin
Long

eurjpy.1h.butterfly

FX:EURJPY   Euro / Japanese Yen
Mates, here's a butterfly advanced formation.
Butterfly advanced formation differs very much from harmonic butterfly pattern . Mostly in it's B-point identification and trade execution/management rules. With this timeframe and swing identification technique I use the alternative entry at 1,272AB (the original entry is 1,272XA). My entry technique with these setups is limit order entry. Targets are 0.382AD and 0.618AD. I measure the distance towards the first target and use it to calculate my stop level. THis way initially I have a 1 to 1 Rewared to Risk Ratio. I don't have a slightest idea what is the probability of price to move from C-point to D-point that's why I never trade it. But when price comes to my entry I know that I have a high probability of success. Appreciate your likes and comments.
Order cancelled: the pattern was invalidated.
can you do the same for 4 hourly chart?
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Alexander_Nikitin vincentjoseph
@vincentjoseph, I post 4h charts pretty often.
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Thanks for the good analysis once again!
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@mituxm, my pleasure:)
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Please keep posting analysis, thanks!
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@lorurisalub, you are welcome:) will do
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Greetings from Brazil! Thanks for all the analysis, we are forever grateful to you!
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@yiyusoyagef, you are welcome:)
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thanks. Still on my way to learn
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@yitiancai, yup:) it will take for a while to master it.
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