TradingView
Kylan_Laymance
May 12, 2015 8:41 PM

Butterfly pattern 30 GBP/USD Short

British Pound/U.S. DollarFXCM

Description

After completing the crab pattern posted yesterday, we noticed that the market rallied into new structure highs. In the new consolidation I see a butterfly pattern on the 30 min GBP/USD charts. I caught it a little late but i'm getting in halfway down the trend still leaving me a roughly 2:1 risk reward and some decent profit. I believe that the market will continue to rally down into previous structure highs where I will get out. Dont forget to follow like and comment what you see and your own opinions. Good trading!
Comments
ishstar
What is your target exit
Kylan_Laymance
anywhere between previous structure high and the 1.618 extension of the BC leg, i'm following it with my stops
Kylan_Laymance
Trailing my stops i guess you might say
More