AUDNZD Bullish Butterfly and Long Opportunity

Published 03-16-2018

CHART TIMEFRAME: H1

PATTERN: BULLISH SHARK

PREDICTED PRICE ACTION: Breakout of the 1.07400 Structural support and Possible Retracement at D leg

TRADE: LONG

AREA OF ENTRY: 1.06800 – 1.06700

STOP LOSS: 1.06400

TAKE PROFIT 1: 1.070800

TAKE PROFIT 2: 1.07350

NOTE: Wait for the price meets the area of entry and makes H1 closing.

FOR THE TRADERS WHO WANT TO TAKE THE SHORT TRADE BEFORE LONG:

TRADE: SHORT

AREA OF ENTRY: 1.07380 ( H1 candlestick closing below 1.07400 )

STOP LOSS: 1.07700

TAKE PROFIT 1: 1.06900

UPDATE: SHORT TRADE REACHED THE TARGET 48 PIPS. WE WILL TAKE THE LONG TRADE AS SOON AS PRICE REACHES AREA OF ENTRY.

IMPORTANT: Patience and Money Management are key to success in trading. Your risk ( Stop Loss ) must be maximum 1%.

DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.

AUDNZD Bullish Butterfly: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility