Greetings fellow traders, today we are analyzing the EUR/USD 4hr chart, looking at a potential Bullish Butterfly Pattern.
The pattern is in the process of completing the C to D leg. There is a possible 1:3.5 risk to reward, with a max of 1:5.
The measurements for a butterfly pattern are detailed below:
B: 0.786
C: 0.386 - 0.886
D: 1.618 - 2.240
X to D: 1.272
Will be looking to enter this trade with some more confirmations after the pattern is completed.
Please share your thoughts!
The pattern is in the process of completing the C to D leg. There is a possible 1:3.5 risk to reward, with a max of 1:5.
The measurements for a butterfly pattern are detailed below:
B: 0.786
C: 0.386 - 0.886
D: 1.618 - 2.240
X to D: 1.272
Will be looking to enter this trade with some more confirmations after the pattern is completed.
Please share your thoughts!
Comment:
Keep watch on this pair, the C to D leg is almost complete!