NZDUSD, structure breakout pullback v.s bullish butterfly
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In terms of a butterfly pattern, it is always correlated with fake breakout.
In this NZDUSD hourly chart example, it did break the structure to make a new low.
As a with-trend trader, of course I'm more inclined to short but will pay some respect to the bullish butterfly.
Therefore, at the 1st TP of the butterfly there is also a structure pullback.
That will be the trade for me !
Let's see how it goes!
In this NZDUSD hourly chart example, it did break the structure to make a new low.
As a with-trend trader, of course I'm more inclined to short but will pay some respect to the bullish butterfly.
Therefore, at the 1st TP of the butterfly there is also a structure pullback.
That will be the trade for me !
Let's see how it goes!
Note
pullback to 0.6800 and CRUSH yo!
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