Kylan_Laymance
Long

Butterfly Pattern, Nzd/Usd, 1 hour

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
Here we see a butterfly pattern on the Nzd/ USD charts. the pattern has completed in the negative deviation of the last 100 moves. According to my strategy, if a bullish harmonic completes in the negative deviation area, it is likely that the market will rally back up into the positive deviation. The only thing to worry about here, is that over the last 200 moves, the pattern completed in the positive deviation , so I have my stop placed for that retracement.

Like all harmonics , i have my entry placed at B, my stop placed at X and my limit, just so happens to be at A sue to the 1.618 extension being in the same place. I was thinking about moving my limit down from the 1.618 extension of BC             , to Point A , and i haven't gotten any feed back on the idea, please leave a comment with your opinion .

Please like and follow this post for updates on its completion, also follow me for more trades and potential profit , pattern ideas ect... And comment your opinions on the future of this trade.

Thanks for checking this out , as always Good Trading !
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