as for the Take Profit I have considered the Non Farm Payroll once the mark 61% retracement is hit. The possibility that this is a reversal is half confirm for the reason a 1 day support is yet to be broken. however because of the nature of batterfly pattern which is an active reversal. the previouse pattern contributed a lot of factor for my confidence that this will have a long down pips.
Did i really know that this will happen? to be honest it shakens my confidece due to its long consolidation on 4hrs that took almost a day before it confirm that my trade was right. I even have small losses since i traded up on the candle that break the consilidation. howerve i did not turn of my sell trade but of course i did put a stop lost on my buy trade.
What Next?
I have lot to consider if i will find a reversal pattern on 1 day which what i can see is an head and shoulder advance pattern then thats the time Higher percentage of reversal is confirm. Not to mention neckline must be below the support of 1 day...
if it did not break then most cases it is start on 2nd wave for uptrend refer pic below
