tntsunrise
Long

Eurusd Back to Back Butterfly + Cypher

FX:EURUSD   Euro Fx/U.S. Dollar
1181 8 50
EURUSD             Beautiful BACK TO BACK Butterfly and Cypher

We have a butterfly pattern completed
@ 1.0647
We have a back to back cypher (yellow)
completing at 1.0787
Trade Plan:
Long EUR now, stop below 1.0620
Target : 1.0787
Then we Short based on the Cypher Pattern
Comment: Nice Reversal, Keep going north
Comment: TAKE PROFIT AT 1.0745
half position
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really good work mate, like your analysis, always a pleasure to read your charts!

Best,
Sam
Reply
Thanks bro!
Reply
Hi,JACK, why don't you think that the D point of the butterfly pattern will goes to the 1.618 of AB then rise instead of the 1.414 of AB?..
Reply
Correct, For Butterfly Pattern we enter 1.272, 1.414, if go too deep , the risk reward is not very good
Reply
short on EURUSD

Are we allowed to use advanced patter here ? seems that we still have the structure , so we hould use structure , until the trend is broken.
right ?
Reply
tntsunrise TOP Marco77Polo
yes you can use the pattern here. because in 1h chart the price has already tested 1.272-1.414 level twice,and break the trendline
Reply
mhabash15015 tntsunrise
what about gbp usd sir ???
Reply
tntsunrise TOP mhabash15015
face resistance soon
Reply
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