EURUSD Bearish Butterfly and Short Opportunity
EURUSD Completed Bearish Cypher at 1.13500 and Bearish Butterfly will be completed at 1.1369
Our Trade Setup:
Time Frame: H1
Trade Period: Intraday / Midterm
Estimated completion time: 4 – 18 H1 CANDLESTICK
The trend in the Timeframe: Bearish
The trend in the Daily Chart: Neutral
Trade Based On Bearish Butterfly Pattern
The accuracy of the pattern: 98 %
Recommended Lot Size: 0.10 at 10K
Area of the Entry 1.13690
Stop Loss: 1.13900
Target 1: 1.13400 / Reached
Target 2: 1.13200
Target 3: 1.12900
Update: Trade Reached the first target.
The pair is testing the 1.13300 support.
Eurozone CPI and PMI will be released. Breakout of 1.13300 and the trendline will trigger the bearish move. The ultimate target of the trade is 1.12100.
Now we close 30% of the positions and move Stop Loss to entry level.
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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money
EURUSD: 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