2018Apr24 EURJPY H4 Bearish Butterfly

There is a bearish butterfly for EURJPY. The bearish bias is due to a green shooting star at the potential reversal zone of a bearish butterfly (127.2 to 161.8 Fibonacci extension of leg AX). Price entry is guided by the close of a red candlestick engufing the body of the green candle before it. The stop loss is just above point D while take profit targets are set at the 38.2 and 61.8 Fibonacci retracement of leg AD.

Trade Setup: Bearish Butterfly
Price Entry 133.119
SL 133.536 | SL pips 41.7
TP1 131.751 | TP1 pips 136.8
TP2 130.679 | TP2 pips 244.0
RRR1 3.28 | RRR2 5.85
Status/Remarks: TP1 & TP2 hit! :)