Potential Butterfly Pattern on the AUDUSD 60M Chart

Price Action recovered after a drop into the 0.700 zone. If price reaches entry point the stoploss will rest above the 0.7220 resistance level. The take Profit will be at the 0.618 Fibonacci Retracement of the AD Leg.

Pattern: Butterfly

Symbol: AUDUSD

Date: Friday, 15th of November 2015

Timeframe: 60M

Entry-Point: 0.7190

Stoploss: 0.7225

Take-Profit 1: 0.7123

Take-Profit 2: 0.7082