AUDJPY 240 Bullish Butterfly
Hello there,
My appology if your eyes are hurting, just focus on the dark blue lines in case of an overload.
I expect price to reverse between the two dark dashed horizontal lines, so in between a buy order will be placed should this pattern remain valid. As you can see a 61.8% fib level resides closely to the surface in this zone, just slightly under this fib level @ 85.360 lies the pivot S3 line which I have chosen as a potential entry. Should price close in to this aera it will be worth seeing if this entry should be adjusted or not.
I advice you try to buy this one low as you won't have too much room to the upside. The profit target will be B of the pattern. It might be an idea to draw these blue lines on your own chart and wait for price to touch it before buying as price has a tendency to bounce off them.
Thanks for stopping by and feel free to give feedback or your own take on this.
My appology if your eyes are hurting, just focus on the dark blue lines in case of an overload.
I expect price to reverse between the two dark dashed horizontal lines, so in between a buy order will be placed should this pattern remain valid. As you can see a 61.8% fib level resides closely to the surface in this zone, just slightly under this fib level @ 85.360 lies the pivot S3 line which I have chosen as a potential entry. Should price close in to this aera it will be worth seeing if this entry should be adjusted or not.
I advice you try to buy this one low as you won't have too much room to the upside. The profit target will be B of the pattern. It might be an idea to draw these blue lines on your own chart and wait for price to touch it before buying as price has a tendency to bounce off them.
Thanks for stopping by and feel free to give feedback or your own take on this.
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