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lyl89

EURUSD - Butterfly Pattern Completed on Daily Chart

Short
Euro / U.S. Dollar (FX:EURUSD)  
lyl89 Updated   
FX:EURUSD   Euro / U.S. Dollar
Fibonacci Harmonic Patterns Butterfly EURUSD eurusdshort Bearish Butterfly harmonicforex scottcarney Technical Analysis tradingsignals
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fibonacci harmonicpatterns butterflypattern eurusd eurusdshort bearishbutterfly harmonicforex scottcarney technicalanalysis tradingsignals
A bearish butterfly pattern has completed with RSI at overbought level.
Current daily candle and RSI are dropping at the moment.
Good to short using H4 chart or wait till tomorrow.

Note that this is a counter-trend trade, do trade with caution.

R:R at 2.85, not looking at TP2 as it's counter-trend.

Good luck.
Comment:
Entering after the circled candle would be ideal, though a little late now.
Suggest to wait for pullback.
snapshot
Order cancelled:
No retracement after pullback, decided not to take the trade.
snapshot
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