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secalert
May 8, 2017 6:36 PM

$USDJPY: potential bearish harmonic pattern on M60 charts! Short

U.S. Dollar/Japanese YenFXCM

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$USDJPY: potential bearish harmonic pattern on M60 charts!
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secalert
Rules for the butterfly pattern:
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1. Define the X -> A leg
2. The A -> B leg retracement MUST touch the 0.786 Fibonacci Level, but cannot violate X
3. The B -> C leg MUST at least touch the 0.382 Fibonacci Level, but cannot violate the 0.786 Fibonacci Level
4. The C -> D leg MUST at least touch the 1.272 Fibonacci Extension of the A -> B leg, but cannot violate the 1.414 Fibonacci Level
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