Kylan_Laymance
Short

Butterfly pattern, Dominos Pizza inc., Daily

NYSE:DPZ   DOMINOS PIZZA INC
Here we have a series of patterns i' m currently trading, the first was a bearish Gartley pattern , which has yet to be stopped out nor has it hit a limit .

The second is a bullish Cypher pattern , which has reached its limit and completed for a gain of $4.50.

And the last pattern in progress is the butterfly pattern which still has a shorting opportunity. If you place your short entry at point B , your limit at the 1.618 extension of the BC             leg, and your stop above point X, you should profit more than $3.00 a share.

The support behind this Trade includes the butterfly pattern , the previous not completed gartley pattern , and the linear regression channel.

The linear regression channel has a bearish butterfly pattern completed in the positive deviation area for both the last 100 and 200 moves, which suggests that the market is likely to move into negative deviation.

thanks for checking out this trade, if you decide to act on this trade, I wish the best of luck to you , please like this post and come back and comment when it completes and let me know how you did.

Thanks again , Please follow me and Good trading Everyone!
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