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EURGBP Harmonic Butterfly Pattern and Short Trade Update: TP3 Reached

EURGBP Harmonic Butterfly Pattern and Short Trade

Description: Chartraderpro finds a forming Harmonic Bearish Butterfly Pattern on H1 Chart timeframe. Potential bearish  reversal is predicted at D.

Trade Period: Intraday

Pair / Instrument: EURGBP

Time Frame:H1

The trend in the Timeframe: Bullish

The trend in the Daily Chart:  Bullish

Trade Based On:Harmonic Bearish Butterfly Pattern

Accuracy: %96

Recommended Lot Size: 0.08@ 10 K Account with 1:100 Leverage

Trade:  Short

The Area Of The Entry: 0.88450 – 0.88500

Stop Loss: Above 0.88700

Target 1: 0.88100

Target 2: 1.87700

Target 3: 1.87500

What to Pay Attention:

You can view the setup: EURGBP BEARISH BUTTERFLY

Update: TP3 Reached  100 Pips

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Rules To Keep In Your Mind:  Trade Safe. Money  Management is the key to success in forex trading. Do not risk more than 1% of your account in each trade.

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

EURGBP Bearish Butterfly Pattern : 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.

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