BEARISH BUTTERFLY PATTERN ON 1H AUDJPY

31 May 2016

Butterfly pattern finishing on 1H AUDJPY with .886 retracement confluence. Previous patterns have played out nicely on this pair. SL placed at previous structure high gives good R-R ratio. TP targets @ .382 A-D and .618 A-D. RSI on overbought favoring a short entry with previous divergence.

31 May 2016

Not

Trade is active.

31 May 2016

Not

We´ve got a double top @ 80.644 to favor a short entry or, in my case, an increase in the position.

31 May 2016

Not

TP. trade closed.