NZDUSD, structure breakout pullback v.s bullish butterfly
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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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.
Related publications
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.