FX:GBPUSD   British Pound/U.S. Dollar
407 6 16
Possible short set up. Butterfly AB=CD

Related Ideas

Can you tell me how does this Gartley Pattern work and where can i get info about it?
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Can you tell me how does this Gartley Pattern work and where can i get info about it?
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Harmonic patterns are price action patterns based on Fibonacci ratios. Typically traders look to enter at the C or D point of the pattern. I often look for multiple harmonic patterns to come together in confluence, sharing the same D point. I also look for well defined structure with clear support and resistance levels. Trading these patterns without taking they overall structure into account results in more losses and weaker moves. I learned everything I know about harmonics and structure from researching online and free resources.
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GU Structure
I'm thinking maybe a little downside consolidation but definitely a bit more upside before we come down. 1485 area very important structure
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very good setup. thank you
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