Trader_Joe_Lee
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NZDUSD, structure breakout pullback v.s bullish butterfly

FX:NZDUSD   纽元/美元
In terms of a butterfly pattern , it is always correlated with fake breakout.
In this NZDUSD hourly chart example, it did break the structure to make a new low.
As a with-trend trader, of course I'm more inclined to short but will pay some respect to the bullish butterfly .

Therefore, at the 1st TP of the butterfly there is also a structure pullback.
That will be the trade for me !


Let's see how it goes!

Jul 11
评论: pullback to 0.6800 and CRUSH yo!
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评论

Hello, great analysis, what is the stop loss and target?
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@RockeyGu, stop loss for this trade will be above the C pivot point; and target will be 1:1, 1:2 and trail the others (pretty much all of my trades work this way)
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nice one but it didnt hit my entry LOL
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Trader_Joe_Lee tianmengdeng
@tianmengdeng, That's how the market works though~ Keep on doing what we are doing, sometimes never entry, sometimes entry but stopped out, and sometimes there will be successful trades yo!
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oh I love it
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@yitiancai, the butterfly literally did nothing though lol
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