Interesting place for a butterfly and it is at reasonable resistance,
BUT, 1.0695 is not even a .382 and after a 300+ pip drop it seems
more logical, to me anyway, for a retracement to at least 1.0750, SO,
I'll be watching as it is a low risk idea if the candlesticks present
an enticing short entry or some clarity on the wave pattern.
Best of luck !!!!!
dojitrader
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I'll bet you meant "bearish", right ?
haytch
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yup - my bad !! I get confused sometimes , you know how it is !!
BUT, 1.0695 is not even a .382 and after a 300+ pip drop it seems
more logical, to me anyway, for a retracement to at least 1.0750, SO,
I'll be watching as it is a low risk idea if the candlesticks present
an enticing short entry or some clarity on the wave pattern.
Best of luck !!!!!