Potential Bearish Butterfly

6 בספט׳ 2016

There is a potential bearish butterfly forming on the H4 chart. The D completion has a fib cluster of the 1.27 and the 161.8 fib ext. which gives me double confluence, I will enter on a sell limit because i enter trades aggressively. My entry will be 1.35207. This will be a huge trade and if you did not know butterflies are usually signs of midweek reversals. So i will be taking profit on 38.2 and running a trailing stop after my second take profit hits 61.8. With that being said good luck and good trading.