Nico.Muselle

GBPAUD - Potential bullish butterfly pattern @ structure

FX:GBPAUD   Livre sterling / Dollar australien
9
Normally I rarely trade any butterfly patterns, but as this one should complete around previous structure I might give it a try. Stop loss is a bit tricky in this case as we have to go and check for previous structure. The risk reward ratio is not great, all depending on how you enter the trade. If for example a double bottom would form at pattern completion, we can place the stop loss a lot close to our entry, completely changing the Risk/Reward ration to our benefit.

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