Greetings fellow traders, today we are analyzing the EUR/USD 4hr chart, looking at a potential Bullish Butterfly Pattern.
The pattern is in the process of completing the C to D leg. There is a possible 1:3.5 risk to reward, with a max of 1:5.
The measurements for a butterfly pattern are detailed below:
B: 0.786
C: 0.386 - 0.886
D: 1.618 - 2.240
X to D: 1.272
Will be looking to enter this trade with some more confirmations after the pattern is completed.
Please share your thoughts!
The pattern is in the process of completing the C to D leg. There is a possible 1:3.5 risk to reward, with a max of 1:5.
The measurements for a butterfly pattern are detailed below:
B: 0.786
C: 0.386 - 0.886
D: 1.618 - 2.240
X to D: 1.272
Will be looking to enter this trade with some more confirmations after the pattern is completed.
Please share your thoughts!
Note
Keep watch on this pair, the C to D leg is almost complete!
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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.
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.