dojitrader
Short

Butterfly's Buddy Also Has A Bent Wing ?

FX:EURUSD   Euro/U.S. Dollar
216 1 1
The A to B leg comes up above the required .786 of X to A *the bent wing*
B to C is about right and --- if it gets to D this leg is the most important at
1.272 of X to A. Plus, this will be a new high for the swing which is often
an additional validation -although not a new "all time" high -
sucks in the final bulls who think it's another leg up.
Requires small stops, so it might be worth a try if we get there.
Sharp reversals are a final clue you're on the right side.
{The butterflies buddy is GbpAud}
This set up is pretty much a bust, especially on a major Fed day like today.
Cancel this trade and look for another opportunity.
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