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Bearish US30 Butterfly Pattern

Short
Dow Jones Industrial Average Index (CAPITALCOM:US30)  
SEYED98 Updated   
CAPITALCOM:US30   Dow Jones Industrial Average Index
Harmonic Patterns Butterfly Contains image
3
1
harmonicpatterns butterflypattern containsimage

Understanding the Pullback of US30 Butterfly Pattern

  • In the world of trading, understanding different chart patterns is crucial for making informed decisions. One such pattern is the butterfly pattern, which is currently evident in the US30 market. Traders have observed a pullback in the US30 butterfly pattern from level 1.276 to a lower level.

  • This pullback indicates a potential shift in market momentum, prompting traders to re-evaluate their positions and consider new trading strategies. The possible target of the seller butterfly is at the level 1 Fibonacci, which serves as a key support and resistance level.

  • Traders should closely monitor the price action around this level to gauge the strength of the selling/buying pressure and assess the potential for downward/upward trend.
Trade active:
Tp1:37170
Tp2:36660
Trade closed: target reached:
TP1 TOUCHED
Fibonacci ratios are one of the most powerful and easiest trading tools in your investor’s toolbox. It provides excellent guidance for when a trend will end and reverse course.

GOOD LUCK.

SEYED.
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