Immediate Short term Short on Butterfly Pattern
I usually don't trade this pair but currently i am seeing 3 harmonic patterns and good trading opportunities
a) Completed Bearish Butterfly ( target green rectangle area)
b). Potential Bearish ABCD ( green rectangle is the reversal zone to catch CD leg)
c). Potential Bearish Bat Pattern
This short is to trade the completed bearish butterfly and catch the pips to at least 61.8 fib retracement . Once that is achieved then i am planning to trade the CD leg of ABCD and BAT pattern. The completion of ABCD and BAT has a nice confluence of fib ratios and resistance/possible reversal zone.
a) Completed Bearish Butterfly ( target green rectangle area)
b). Potential Bearish ABCD ( green rectangle is the reversal zone to catch CD leg)
c). Potential Bearish Bat Pattern
This short is to trade the completed bearish butterfly and catch the pips to at least 61.8 fib retracement . Once that is achieved then i am planning to trade the CD leg of ABCD and BAT pattern. The completion of ABCD and BAT has a nice confluence of fib ratios and resistance/possible reversal zone.
I am a Chart Slave.Thank you TradingView and @nmike.
