Formation of Bearish Butterfly Harmonic Reversal Pattern by using FIB tool.
Point D is potential reversal zone. We can see the divergence on Point D.
Trend is going to breakout in bearish direction. We will take trade of short with 1:1 risk/reward ratio.
Trade Plan as follows:
Sell Stop = 162.833
Stop Loss = 166.337
Lot Size = 0.03
Take Profit 1 = 159.329
Take Profit 2 = 155.825
Point D is potential reversal zone. We can see the divergence on Point D.
Trend is going to breakout in bearish direction. We will take trade of short with 1:1 risk/reward ratio.
Trade Plan as follows:
Sell Stop = 162.833
Stop Loss = 166.337
Lot Size = 0.03
Take Profit 1 = 159.329
Take Profit 2 = 155.825
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.
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.