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EURUSD - 2 Bearish Butterfly Pattern on H4 Chart

93
Yellow Bearish Butterfly Pattern
  • Has already completed
  • Session ended with a bearish shooting star candle
  • RSI is already at overbought level, waiting for bearish divergence
  • R:R at 1.2 (TP1) and 2.1 (TP2)


Purple Bearish Butterfly Pattern
  • Might take more time for completion, to keep in view
  • R:R at 3.3 (TP1) and 5.5 (TP2)


In my opinion, I will focus more on the yellow pattern which has already completed.
Reference to H1 chart, RSI is already showing bearish divergence, which seems to be reacting to the pattern.

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