The Perfect Bullish Butterfly Pattern Completed on ETHUSD Daily
The previously posted bullish butterfly pattern on the ETHUSD has completed. It entered the PRZ and turned at the exact position mentioned. However due to the timezone issues, was unable to start a trade... however, will wait for the price to reach the PRZ once again, but the hopes are little...
Reposting it again for people to appreciate harmonic patterns and open trades if they would like to :
The Perfect Butterfly pattern is defined by a B point retracement of an exact 78.6% of the XA leg. Another distinctive aspect of the Perfect
Butterfly structure is a precise 1.618 BC leg that complements the completion of the 1.27 XA leg.
PRZ (Price Reversal Zone):
1.27 AB @ 168.
1.618 BC @ 168
1.27 XA @ 165
The price may test 165 or may turn at 168. So it is advisable to open positions at both levels.
The price may even test the extreme level in the PRZ at 156 which is 2.24 BC .
Hence the stop loss at 155.
Reposting it again for people to appreciate harmonic patterns and open trades if they would like to :
The Perfect Butterfly pattern is defined by a B point retracement of an exact 78.6% of the XA leg. Another distinctive aspect of the Perfect
Butterfly structure is a precise 1.618 BC leg that complements the completion of the 1.27 XA leg.
PRZ (Price Reversal Zone):
1.27 AB @ 168.
1.618 BC @ 168
1.27 XA @ 165
The price may test 165 or may turn at 168. So it is advisable to open positions at both levels.
The price may even test the extreme level in the PRZ at 156 which is 2.24 BC .
Hence the stop loss at 155.
