USDJPY H1 Chart Bullish Butterfly Setup

USDJPY H1 Chart Bullish Butterfly Setup

We see a bullish butterfly pattern on M30/M15 Charts.

Are of the entry is 107.600 – 107.500.

Stop Must be below 107.350 which is AB=CD .

If the pattern works as predicted, Bullish Flag breakout would be activated.

So our Trade Setups are as follows: If you look for safe trade, you can wait for the bullish Flag Breakout

Bullish Butterfly Setup:

Trade: Long

Entry: 107.600 – 107.500

Stop: 107.300

Targets: 107.940 / Reached / 30 pips

Target 2:108.150 / Reached 65 Pips

Target 3:108.400 / Reached 80 Pips

Bullish Flag Breakout Setup:

Trade: Long

Entry: Estimated Breakout Level 107.790

Target 1: 107.940 / Reached / 15 pips

Target 2:108.150 / Reached 45 pips

Target 3:108.400 / Reached 60 Pips

We will look for a short opportunity at 108.500 if this trade works as predicted. I will update!

Note the Risks: G20, Friday’s Low Liquidity/High Volatility!
Trade Less Lots Today!

Update: TP2 Reached. Book partial profit and move your stop loss to break even.

Warning and Things to Pay Attention:

1. Harmonic Patterns are reversal patterns and mostly against the main trend on the chart they appear.
2. Target levels are determined by MM Calculation as the pattern has not been completed yet. They may vary 3-5 pips according to the completion level of the predicted patterns.
3. Pay attention to Time Frame, Trade Period and Estimated Completion Time, Accuracy and Recommended Lot Size clauses mentioned below.
4. Do not risk more than 2% in one trade setup.
5. We usually book partial profit at the first target and move our stop loss to entry or break-even level. Use your own risk/profit management to exit the trade.
6. We are publishing potential opportunities. There are no certainties and traders bets on possibilities. Read the setup carefully before entering a trade and take your own decision.

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

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