One of my favourite Harmonics Pattern other then the Bat Pattern. I actually took the Bat short last month at completion zone (about 1.1467) for this pair and now Butterfly is presenting another trading opportunity. That is why Harmonics Pattern is so powerful and easy to identify, perfect more traders who are newer to the scene. Look out for price if it goes...
Bullish Bat on this pair. Allow price to drop into the buy area and to proceed with caution! I will wait for more confirmation signals before I take this trade. I see healthy Risk-Reward Ratio (RRR) on this one even at first level of take profit (1 : 1.7). Only look at trade setups with good RRR to ensure long term profitability. Do like and share this post....
Wait for price to decline into the buy zone, I am looking to buy around the 78.6-88.6 Fibo retracement. Long term trend upwards, trading with the trend. Entry: 111.218 (est) Stop Loss: 110.573 (-65pips) TP1: 111.939 (+72pips) TP2: 112.633 (+142pips) Risk to Reward: 1:11 (TP1), 1:2 (TP2) May all of your trades be green and achieve all your financial goals!