Interesting set up for AUDUSD - What looks like a potential Bearish Butterfly!
We can use the 'Butterfly Indicator' as a tool to predict a change in market conditions.
On the 4 Hour chart, there is a strong ascending trendline, I'm expecting a break this week. Before entering a Sell position, we will wait for a break in the trend.
Take Profit 1 & 2 marked on the chart. Please note, this trade is a long term trade.
Please remember to LIKE, COMMENT and FOLLOW for more trade ideas!
1:2 Risk to Reward Ratio
Target TP2: 109 Pips
@Xpressforex on all social media platforms :-)
We can use the 'Butterfly Indicator' as a tool to predict a change in market conditions.
On the 4 Hour chart, there is a strong ascending trendline, I'm expecting a break this week. Before entering a Sell position, we will wait for a break in the trend.
Take Profit 1 & 2 marked on the chart. Please note, this trade is a long term trade.
Please remember to LIKE, COMMENT and FOLLOW for more trade ideas!
1:2 Risk to Reward Ratio
Target TP2: 109 Pips
@Xpressforex on all social media platforms :-)