GBPUSD Market Outlook – 10 July 2018
Bearish butterfly pattern was formed on GBPUSD. GBPUSD made around 150 pips Today. As you can see from the screenshot, GBPUSD made reversal at each PRZ Type B levels. I have marked as red circle.
Here is the note. Just before or after the entry, you will be desperate to confirm if you are making the right trading. To know this, check this in multiple timeframe context.
In my case, I have brought the bearish butterfly pattern from M30 timeframe to H1 timeframe to check its significance with Elliott Wave Trend. To do so, just press the lock pattern. Then you can see the same pattern in any timeframe. So I could confirm its accuracy with Elliott Wave Trend. If you have Elliott Wave Trend, also check it on H4 timeframe. I can see that 3 other turning point strength there. Always trade on quality and not for the quantity.