Tradesy1

Bearish Butterfly (D)

Short
FX:EURUSD   Euro / U.S. Dollar
The Higher time frame analysis I publish is to be used to form a bias for trading on the intraday time frames.

Price has been rejected multiple times at the Butterfly entry line (127.2% XA) and at the 224% BC projection.

Although the 224% BC projection aligns closely with the 127.2% XA extension, price may potentially push higher to the extreme 261.8% of BC before the move to the downside occurs.


Due to TV's subdomains for languages I have published copies of my ideas to each.
Comment: Price has reached the 261.8% extreme BC projection.

This is the Bears last chance to take control with this pattern.

Comment: Bears have painted a second Butterfly on the 1H with entry near to the 261.8 BC of the daily butterfly ...

Comment: I use Higher time frame patterns for analysis, my entries all take place on the 1m time frame.

I have hedged my short positions using this bullish Gartley ...

Comment: Hedging allows me to only risk profit when entering new positions.
Comment: Although the Gartley hedge failed, the next hedge has recouped the profits lost and some ....

Comment: having reached 4R, overall 2R has been secured on this pattern.

Comment: Should price now stop out the long position, the 2R profit would cover the 0.25R loss. The hedge allowed me to hold my short positions, and profit from the short term trend change ...

Trade closed: stop reached
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Comments

Butterfly confirmed!
+1 Reply
Nice mentioning the wedge
Reply
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