There are some amazing setups forming on the charts, here we have GBP/JPY on the 4h chart with a potential bullish butterfly pattern. Excellent opportunity with over 1:4 risk to reward!
The measurements for a valid butterfly pattern are detailed below.
B: 0.786
C: 0.382 - 0.886
D: 1.618 - 2.24
X to D: 1.272
I'll be looking for additional analysis once price approaches the potential reversal zone.
I hope you all have a great week of trading :)
The measurements for a valid butterfly pattern are detailed below.
B: 0.786
C: 0.382 - 0.886
D: 1.618 - 2.24
X to D: 1.272
I'll be looking for additional analysis once price approaches the potential reversal zone.
I hope you all have a great week of trading :)
Note
We're now 120 pips off the reversal zone, keep an eye on this setup going into next week!
📈 Master the Art and Science of Trading: sixfigurecapital.com
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Master the Art and Science of Trading: sixfigurecapital.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.