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HayatoDragonFX

EURUSD, 4 hour timeframe, Bearish butterfly pattern on play

Short
Euro / U.S. Dollar (FX:EURUSD)  
HayatoDragonFX  
FX:EURUSD   Euro / U.S. Dollar
Trend Analysis Harmonic Patterns Technical Indicators EURUSD eurusdshort eurusdforecast Bearish Patterns Bearish Butterfly eurusdsell eurusdprediction
15
2
trendanalysis harmonicpatterns indicator eurusd eurusdshort eurusdforecast bearish bearishbutterfly eurusdsell eurusdprediction
We could see price has been moving sideways for some time for EURUSD.


In my opinion there is a bearish butterfly pattern forming now and price pretty much exhausted.
There is a resistance at 1.1450 and price failed to break above it cleanly. At the same time, a bearish divergence can be spotted on stochastic so i am going to sell EURUSD from this point.

Sell EURUSD 1.1425
Stop loss 1.1470
Take profit 1 @ 1.1365
Take profit 2 @1.1300

good luck
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