captain_smollett

SPX500. Bullish butterfly pattern forming at 4H TF

FX:SPX500   S&P 500 index of US listed shares
Possible bullish bitterfly is spotted on SPX500             but 4H candle close above 2160 level will invalidate the idea.

If confirmed, this pattern can test the bottom of the fork which is built from September´s high through this month´s peak levels.

Short entries are welcome from current values. I will add shorts on market opening as I´m already in a short position as per my previous idea. SL: 1270, TP: 2116

Longs:

Entry point: 2116
SL: 2100
TP1: 2140
TP2: 2155
Comment: Hasn´t been invalidated yet. Looking to add more shorts here
Comment: If they don´t invalidate the pattern in 21 minutes, I go short
Order cancelled: Pattern invalidated :( It was too good to be true...
Trade active: I just went short with the waterfall... My order was triggered at 2160. Moved it to breakeven already as I don´t expect it to perform well.

Formally, the pattern is not valid anymore but I believe we can get to 2138
Trade closed: stop reached: Closed at breakeven but check where the price closed: right below the Parallel line!
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