Night_Trader

Butter...fly in the... SPY

Short
BATS:SPY   SPDR S&P 500 ETF TRUST
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Butterfly Pattern completion.
Short setup with target at the 0.214 retracement from the AD move or at the previous swing high (point X) and stop above. In this example I chose a 2.5:1 risk/reward.
Please have in mind that the trend is very strong. Guessing tops and bottoms is always much more risky than to wait for a significant reversal.

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