jago25_98
Short

Messy bearish butterfly on pins

MTGOX:BTCUSD   Bitcoin / Dollar
189 2 1
Went short after seeing this bearish butterfly . It's messy since we're ignoring that left higher peak and also because it's off the pins.
I don't have much info regards drawing patterns off pins or what to make of that previous high.

TP - ~$650?

I've seen these patterns fail plenty of times. I don't expect it lower than $500
post mortem, went to 744 not below point c. could have profit with a very conservative take profit. advice on other patterns would have said put TP halfway between a&c -ish. i've seen this weak drop following these patterns may times before but also have seen it dip even less and back up and beyond.
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butterfly?? then you can draw mother teresa in a chart and interpret it the way u want..
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