Butterfly on CADJPY Daily
I've been looking at this bug since November... last 4 days all xxxJPY have been dropping steadily, so it does not look like a long opportunity... but what do I know about markets?
What I do know, is that last 1h bar closed inside the zone...
The other thing I can tell is that there are important news on the JPY side today at 6:30 pm EST
I'll keep an eye on lower time frames and see how the JPY pairs react to the news...
As per now numbers look like:
Entry: 82.282
SL: 81.40
Lots of good targets with great RRs... lets name the common ones:
TP1: 84.932 (3 RR)
TP2: 86.569 (4.85 RR)
What I do know, is that last 1h bar closed inside the zone...
The other thing I can tell is that there are important news on the JPY side today at 6:30 pm EST
I'll keep an eye on lower time frames and see how the JPY pairs react to the news...
As per now numbers look like:
Entry: 82.282
SL: 81.40
Lots of good targets with great RRs... lets name the common ones:
TP1: 84.932 (3 RR)
TP2: 86.569 (4.85 RR)
Order cancelled
PA went out of the zone invalidating the pattern.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.