Akil_Stokes

CADJPY - 4 HOUR - A Butterfly Pattern That I Actually Like

Short
FX:CADJPY   Canadian Dollar / Japanese Yen
You don't see me post a lot about the Butterfly Pattern or any of the others that have a "D" Completion point beyond the "X" leg because they don't fit within my philosophy & how I value structure. With that being said I don't dislike the pattern, infact it's one of my favorites from a price action psychology perspective (which we won't get into here).

But what makes this potential Bearish Butterfly Pattern stand out is the fact that we wouldn't have to have a blind stop loss because the D completion actually lines up with a higher timeframe level of structure looking left. This adds more confluence to the opportunity whether you're a butterfly trader or a structure playing looking to build your CTS score at that level. Either way I think it's a decent opportunity to look for shorts.

If you have any questions or what to leave any comments about this idea please do so below. Also, don't be shy about sharing how you view this pair as the more ideas we have the more newer traders get to learn.

Your Trading Coach - Akil
Don't Miss Our Upcoming FREE TRADING SUMMIT (Nov. 24th & 25th)
https://tieronetrading.com/navigators-summit/

MY WEEKLY MARKET OUTLOOK VIDEO
https://www.youtube.com/akilstokes

THE TRADING COACH PODCAST
https://anchor.fm/thetradingcoachpodcast

Comments

Mucho Bien. Deseo muncho éxito
+1 Reply
Akil_Stokes Fx-Investmentt
@Fx-Investmentt, You're very welcome
Reply
great analyse sir,
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out