EURGBP Bearish Butterfly and Short Opportunity
EURGBP completed a Bearish XABCD harmonic pattern. Potential bearish retracement is predicted.
Our Trade Setup:
Time Frame: H4
Trade Period: Intraday / Midterm
Estimated completion time: 2- 18 H4 CANDLESTICK
The trend in the Timeframe: Bullish
The trend in the Daily Chart: Neutral
Trade Based On Bearish Harmonic XABCD
The accuracy of the pattern: 93 %
Recommended Lot Size: 0.10 at 10K
Area of the Entry: 0.88050
Stop Loss: Above 0.88200
Target 1: 0.87810
Target 2: 0.87730
Target 3: 0.87630
Update: The pair completed a bearish butterfly pattern at 0.88300, we add short here. Stop above 0.88600 targets are the same.
Update: Pattern started to work. We closed the first order with 38 pips.
Update: TP3 Reached. Our Next target is 0.87400
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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money
EURGBP: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility