GBPUSD-bullish butterfly starting now Long

British Pound/U.S. DollarFXCM

Description

⋅ Sep 30, 2015 4:29 PM

I had no time to post this idea yesterday.
This bullish butterfly is at a key area and could start a needed correction after a strong decline.
D1 chart

H4 chart:

Regards.

Trade closed: target reached

⋅ Oct 2, 2015 4:22 PM

Comments

ElPatron.Y

⋅ Oct 1, 2015 9:29 AM

First target reached and I didn't see this one, too busy with commodities...

FullTimeTrader

⋅ Oct 1, 2015 11:25 AM

Yes, this is one of your prefered setups. Good idea to diversify your portfolio. Regards.

glennmercer

⋅ Oct 1, 2015 1:49 AM

Love it, your posts are great. Long as well:

FullTimeTrader

⋅ Oct 1, 2015 1:54 AM

It seems we have to wait till friday for the NFP news. Sooner or later price should rally. Regards

ezajaan032

⋅ Oct 1, 2015 2:58 AM

Also waiting for confirmation.. Like your work

marcus123

⋅ Sep 30, 2015 8:45 PM

waiting for confirmation...

rlong9500

⋅ Sep 30, 2015 5:26 PM

like to see a break of the last swing high before entry

FullTimeTrader

⋅ Sep 30, 2015 5:28 PM

I agree, many traders prefer to wait for a confirmation, thats very valid. I prefer to enter more agresive at the beginning to have a better R/R ratio.

rlong9500

⋅ Sep 30, 2015 5:32 PM

Understand. I work off HTF charts so my targets are further away so waiting for confirmation works for me. Like your work.

BuySellBuySell

⋅ Sep 30, 2015 5:22 PM

Heavily oversold, a pullback seems a high probability surely ..