Thursday, April 5, 2012

AUD/JPY Butterfly BUY Pattern - Daily & 4-hr. charts

Bullish Butterfly pattern has formed on Daily AUD/JPY chart.  Reason for trade: AB = CD pattern.  D projection comes in at about 84.12.  Candle spiked down to 83.97 just above the 127.2% ext. level.  Hammer or Doji may be forming on Daily chart.  4-hr. chart shows same Butterfly pattern.  Possible Bullish Engulfing candlestick pattern on 4-hr. chart.  Profit targets at 85.75 (38.2%), 86.30 (50.0%), & 86.85 (61.8%).

AUD/JPY Butterfly Buy Pattern - Video



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