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alectrade1
Jun 5, 2014 9:00 AM

Nice risk reward. Short

British Pound/U.S. DollarFXCM

Description

Have a butterfly pattern completing at 1.6802 on cable presenting a nice trading opportunity.
We have a 61.8 fib level and a nice structure level coming together at the butterfly completion.
1st target being at 1.6763.
Second target can be looking for 1.67 even handle. Maybe even 127% extension of the current retracement.
Stops at 1.6833

P.S be aware of employment numbers out today. Ensure stops and at least first targets are loaded.
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