This is the H4 chart of EURUSD.
It has completed a bearish butterfly pattern at around 1.2250.
I believe the underlying trend is still bullish, therefore I am only aiming for the 38.2 profit level.
Next week, I will be monitoring the 1.2250-1.2260 level for potential short.
I want to see exhaustion vol happening when price retest the downsloping trendline.
Entry 1.2250-.2260
SL 1.2350 (90/100)
The AD 38.2 is my first profit target at 1.2030 (220/230)
It has completed a bearish butterfly pattern at around 1.2250.
I believe the underlying trend is still bullish, therefore I am only aiming for the 38.2 profit level.
Next week, I will be monitoring the 1.2250-1.2260 level for potential short.
I want to see exhaustion vol happening when price retest the downsloping trendline.
Entry 1.2250-.2260
SL 1.2350 (90/100)
The AD 38.2 is my first profit target at 1.2030 (220/230)