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joelduque

2018Apr17 GBPJPY H4 Bearish Butterfly

Short
British Pound / Japanese Yen (FX:GBPJPY)  
joelduque  
FX:GBPJPY   British Pound / Japanese Yen
Fibonacci Harmonic Patterns Butterfly
3
0
fibonacci harmonicpatterns butterflypattern
There is a bearish butterfly for GBPJPY. Price entry at 153.255 is guided by the close of a red candlestick which completely engulfed the bodies of the 4 previous ones. Stop loss is just above point D while take profit levels are set at the 38.2 and 61.8 Fibonacci retracement levels of leg AD.

Trade Setup: Bearish Butterfly
Price Entry 153.255
SL 153.898 | SL pips 64.3
TP1 150.463 | TP1 pips 279.2
TP2 148.371 | TP2 pips 488.4
RRR1 4.34 | RRR2 7.60
Status/Remarks: TP1 & TP2 hit! :)
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