Pattern Based Trade Setup for 1:5 Risk Reward Ratio
A potential bearish butterfly is already completed and another upcoming bearish Bat Pattern Setup is soon to form inside the bear butterfly prz (127.20-161.80). Trade with care and wisely.
We could aggressively short/sell this market if price reach or get back to the 127.20% price level and stops just above the 161.80% or wait for the completion of the bear bat at the 88.60% price level for a possible 1:5 RRR, but take note that this could be riskier. Whatever suits your risk management or how much you're willing to risk is good for a trade plan, so plan your trade and trade your plan. Good luck!
We could aggressively short/sell this market if price reach or get back to the 127.20% price level and stops just above the 161.80% or wait for the completion of the bear bat at the 88.60% price level for a possible 1:5 RRR, but take note that this could be riskier. Whatever suits your risk management or how much you're willing to risk is good for a trade plan, so plan your trade and trade your plan. Good luck!
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TP1 reached if you have taken the setup.