EURJPY Bearish Butterfly and Trendline Breakout
Description of the pattern: EURJPY completed a Bearish Butterfly Pattern. The pair is testing the zigzag trendline. Short opportunity at the breakout of the trendline.
Time Frame: H1
Trade Period: Intraday / Scalping
Estimated completion time: 4-10 H1 Candle Sticks
The trend in the Timeframe: Bullish
The trend in the Daily Chart: Neutral
Trade Based On Bearish Butterfly and Trendline Breakout
The accuracy of the pattern: 87%
Recommended Lot Size: 0.10 at 10K
The Area Of The Entry: Estimated Breakout 125.040
Stop Loss: 125.300
Target 1: 124.800 / Reached
Target 2: 124.600 / Reached
Update: We book profit and move SL to entry. Potential Pullbacks towards 125.000 can be used as a selling opportunity.
Extended Target: 124.210 and 123.830
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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money
EURJPY: 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 läsa. 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