AndrewFx2020

EURGBP - 2 Patterns... Bullish Butterfly and Bullish ABCD

Long
FX:EURGBP   Euro / British Pound
There is an imperfect bullish butterfly pattern forming on the 1 hour EURGBP time-frame. The problem I see is that the AC leg should be closer to .886 and not .617

However, there is an almost perfect bullish ABCD pattern forming as the AC leg has hit 0.618 perfectly and then the price moved south immediately.

A couple more hours of trading and we'll get confirmation of the CD leg forming.

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.