AdamHong
Long

GBPUSD:Bullish Butterfly Pattern and AB=CD Pattern

FX:GBPUSD   British Pound/U.S. Dollar
The bullish Butterfly pattern is completing at about 1.21 levels and the bullish AB=CD pattern will finish at 1.208 level.
Meanwhile the previous low points is also at this zone.
So it may be good a opportunity to buy at 1.208-1.210 levels when bullish candles appear.
SL:below 1.208
TP1:1.218
TP2:1.223 and further more
Trade active
Comment: TP1 reached.
Comment: TP2 reached.
Does C point need to hit 0.618 AB?
Reply
AdamHong yihett321
no,0.382-1.0 AB are all ok on butterfly pattern.
Reply
Nice trade
Reply
yihett321 yihett321
One more question, how to calculate the SL point? Is SL just below 1.208 ? Thanks.
Reply
AdamHong yihett321
It is just below the X point plus the ATR or at least twenty points.
Reply
yihett321 AdamHong
X plus the ATR corresponding to point X? Thanks
Reply
AdamHong yihett321
Yes
Reply
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