GBPUSD 60m Bullish Butterfly Long

FX:GBPUSD60

British Pound/U.S. DollarFXCM

Description

⋅ May 5, 2014 1:29 PM

Description on the chart,

stoploss below demand or can used below 1.618 for extra safety.

Comments

poap

⋅ May 6, 2014 8:14 AM

this one isn't a butterfly but it could be cypher, still forming the C point, so I'll keep tracking this.

katilon

⋅ May 5, 2014 2:44 PM

1.618 ???

poap

⋅ May 5, 2014 2:45 PM

why are you surprised??

katilon

⋅ May 5, 2014 2:56 PM

far stoploss

poap

⋅ May 5, 2014 2:59 PM

I close trades when I see candle close below red zone, or some other ugly PA

I really wouldn't wait price to reach the 161.8 to tell me that I am wrong..

poap

⋅ May 5, 2014 2:59 PM

It helps me to prevent being stop out by fakeouts.