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Kylan_Laymance

Butterfly Pattern, EUR/AUD, 30min

Long
Euro / Dollaro australiano (FX:EURAUD)  
Kylan_Laymance  
FX:EURAUD   Euro / Dollaro australiano
LONG Butterfly Harmonic Patterns patern price action priceaction wave retracement 1.618 extensions Fibonacci
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long butterflypattern harmonicpatterns patern price action priceaction wave retracement 1.618 extensions fibonacci
Here we see a butterfly pattern completed on the Eur Aud 30 min chart.

We know that butterfly patterns often rally to the 1.618 extension of the BC leg, so that is where our limit is at.

Our entry is at point B and our stop is at point D, giving us a 1.39 risk to reward.

I believe the rally will take place over the next few hours.

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Thanks guys, and Good Trading!
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