tntsunrise
Short

AUD USD BEARISH BUTTERFLY

FX:AUDUSD   Australian Dollar/U.S. Dollar
421 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?
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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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