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.