AUDJPY 240 Bullish Butterfly

Hello there,

My appology if your eyes are hurting, just focus on the dark blue lines in case of an overload.
I expect price to reverse between the two dark dashed horizontal lines, so in between a buy order will be placed should this pattern remain valid. As you can see a 61.8% fib level resides closely to the surface in this zone, just slightly under this fib level @ 85.360 lies the pivot S3 line which I have chosen as a potential entry. Should price close in to this aera it will be worth seeing if this entry should be adjusted or not.

I advice you try to buy this one low as you won't have too much room to the upside. The profit target will be B of the pattern. It might be an idea to draw these blue lines on your own chart and wait for price to touch it before buying as price has a tendency to bounce off them.

Thanks for stopping by and feel free to give feedback or your own take on this.