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}
Comments
dojitrader
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This set up is pretty much a bust, especially on a major Fed day like today.
Cancel this trade and look for another opportunity.
Cancel this trade and look for another opportunity.