We are currently trading the 4th leg of a possible butterfly pattern. You can also see that price has been using this middle price point (orange circles) as a pivot point. When looking at the green circles, you can see price is creating structure indicating higher lows.
Our R:R on this trade is 3.32
Our R:R on this trade is 3.32
Comment:
Daily candle closed as an indecision. Trade could go further down or up, it would be impossible to predict the short term movement but we are still within our risk and the trade is still valid. Overall structure is still indicating bullish momentum.
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