Bullish Butterfly H4
The previous analysis considered invalid as it broke pass stop loss forming a larger pattern
Reasons to go Long:
1) On H4 the RSI had shown an oversold condition
2) On the H1 Chart, RSI had shown a divergence
3) A retest of the PRZ and an immediate reversal
4) On the Daily TF RSI is at the lower boundary - Price may retest resistance create an oversold condition
BuyZone: 1.14272 - 1.14006
SL: 1.13600
Tp1: 1.15370
Tp2: 1.16330
The previous analysis considered invalid as it broke pass stop loss forming a larger pattern
Reasons to go Long:
1) On H4 the RSI had shown an oversold condition
2) On the H1 Chart, RSI had shown a divergence
3) A retest of the PRZ and an immediate reversal
4) On the Daily TF RSI is at the lower boundary - Price may retest resistance create an oversold condition
BuyZone: 1.14272 - 1.14006
SL: 1.13600
Tp1: 1.15370
Tp2: 1.16330
Note
I am looking for a pull back to Tp1, ideally Tp2. Also watch the news closely if there are more demands for EURNote
By now this pattern has been invalidated. Fundamentals overrule the pattern.
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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.
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.