Trade Ideas Position: GBPUSD Butterfly
Updated
A support level on the daily chart happens to be the Harmonic Optimal Price(HOP) of the bullish butterfly pattern on the 1-hourly chart, and it is set up for a countertrend trade.
It does provide a great reward: risk the only thing is that on the daily chart, it is also the consolidation of a bearish bat after Point D completion.
Just remember not to overtrade this, you should be fine.
It does provide a great reward: risk the only thing is that on the daily chart, it is also the consolidation of a bearish bat after Point D completion.
Just remember not to overtrade this, you should be fine.
Trade closed: stop reached
Hit stop loss -32
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