tntsunrise
Short

AUD USD BEARISH BUTTERFLY

FX:AUDUSD   Australian Dollar / U.S. Dollar
424 3 7
SHORT AT 0.92
AIM 0.90
STOP GO ABOVE 0.9240
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I think you should check out your Butterfly pattern again.

Firstly, the high at B was slightly lower than the previous high from Jan 13.

The CD leg is usually at least a 1.272 extension of XA, which would put it around 0.9304, but the 1.618 extension is also valid.

I am currently awaiting the reaction if it reaches the next decent level of S/R, which is around 0.9285.
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Yes you are right. You mean THE CD leg is 1.272 of XA? not AB?
Reply
mustard tntsunrise
Yes, the CD leg is either 1.272XA or 1.618XA.

Check out the different harmonic patterns here.

http://www.harmonictrader.com/price_patternsbfly.htm
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