EURUSD Bearish Butterfly and Short Opportunity
Pair / Instrument: EURUSD
Time Frame: HOURLY
The trend in the Timeframe: BULLISH
The trend in the Daily Chart: BEARISH
Description: We have entered a Long Trade based on Bullish Butterfly Harmonic pattern. Trade generated 120 pips so far. Bearish pressure remains as long as the price holds below 1.15500. Now we see a bearish butterfly harmonic pattern on the hourly chart. Possible bearish continuation is expected.
Trade Based On: Bearish Butterfly Harmonic Pattern
Entry:1.14640 – 1.14820
Stop Loss: Close above 1.15150
Take Profit 1: 1.14200
Take Profit 2: 1.13850
Take profit 3: 1.13200
NOTE: We have another pattern and we will share with the members only. The pattern’s area of entry is 20 pips. We will send entry notification to members.
You can view the trade idea: EURUSD Bearish Butterfly
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
EURUSD Bearish Butterfly: 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