Euro / U.S. DollarShort
EURUSD - 2 Bearish Butterfly Pattern on H4 Chart
Yellow Bearish Butterfly Pattern
Purple Bearish Butterfly Pattern
In my opinion, I will focus more on the yellow pattern which has already completed.
Reference to H1 chart, RSI is already showing bearish divergence, which seems to be reacting to the pattern.
- Has already completed
- Session ended with a bearish shooting star candle
- RSI is already at overbought level, waiting for bearish divergence
- R:R at 1.2 (TP1) and 2.1 (TP2)
Purple Bearish Butterfly Pattern
- Might take more time for completion, to keep in view
- R:R at 3.3 (TP1) and 5.5 (TP2)
In my opinion, I will focus more on the yellow pattern which has already completed.
Reference to H1 chart, RSI is already showing bearish divergence, which seems to be reacting to the pattern.
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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.