Get started
RaynLim

Trade Ideas Position: GBPUSD Butterfly

Long
British Pound / U.S. Dollar (FX:GBPUSD)  
RaynLim Updated   
FX:GBPUSD   British Pound / U.S. Dollar
Butterfly Harmonic Patterns Support and Resistance askforex100 GBPUSD Bullish Butterfly sidewaybounce rsidivergence countertrend
7
0
butterflypattern harmonicpatterns supportandresistance askforex100 gbpusd bullishbutterfly sidewaybounce rsidivergence countertrend
A support level on the daily chart happens to be the Harmonic Optimal Price(HOP) of the bullish butterfly pattern on the 1-hourly chart, and it is set up for a countertrend trade.

It does provide a great reward: risk the only thing is that on the daily chart, it is also the consolidation of a bearish bat after Point D completion.

Just remember not to overtrade this, you should be fine.
Trade closed: stop reached:
Hit stop loss -32
We believe that we should not slog our life away. Keep working to the minimum. How about 15mins a day?

Get into our 15mins workday community
discord.gg/AKDr9vPqH7

Live session & Trading Tips on the GO
www.tiktok.com/@raynlim
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.