FX:EURUSD   Euro Fx/U.S. Dollar
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Anti-Butterfly
It's a cypher pattern. I'm in that trade. A very good one as it went south right away :D
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It's not a cypher buddy, the C wave is too large and the D wave is too small. The pattern is exactly what I said it was.
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I will accept the 1.11140 but the 1.10599 Needs to be adjusted to 1.10741. If this turns and goes your way... then TRUST me, it will get there eventually! ; ). The 1.10142 Is a pipe dream for now.
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stocktrader15 PRO Trillionschifer
You don't need to accept anything and if you feel the need for adjusting post your own ideas. The only thing I TRUST is my system.
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Trillionschifer stocktrader15
Cool with me. :)
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stocktrader15 PRO Trillionschifer
My trading system is based on wave analysis using the rules of EW and harmonics. Typically focusing on a mean reversion when price is in counter trend extremes on a lower time frame. MY first TP is placed just before where i would expect the first probable support level given the rules of hamonics which would be where the B point of the anti-butterfly and .382 retracement of the last major swing are in confluence. I close 60% of my position here and lower stop to lock in profits. If price bounces here I look for a possible place to add half of what I closed back on. Some sort of continuation pattern with acquitted structure. If price does not bounce or bounces and does not offer a chance to add to they position then I let it either hit my stops or I close 30% of my position at the next tp and move the stop down again behind structure to lock in profits. At this point with 10% of my original position in I can start to look for possible set ups to take a trade in they other direction or hit my tp or stop to close the last 10% of my position. I keep risk constant on all trades risking between 1-3% of capital as I scale in and then out. I've been using this mean reversion system based on harmonics and elliot wave for a long time now and I would put it up against any other system. It's objective, repeatable, easy to read and spot set ups and has a nice edge.
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stocktrader15 PRO stocktrader15
adequate* structure
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what does a butterfly usally mean a bullish or bearish signal?
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Tiberious jpips91
Can be either
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Cool pattern, but it ain't a butterfly
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