Another pattern called the Bullish
. This is an alternative to butterfly pattern
. It only measures the possibility of a short term correction. Take note that this is not a reversal pattern. The full butterfly pattern
is the reversal one. So the general trend remains to be bearish
. Today I came across a Technician's idea. It really made sense that the market is looking for support. I have linked his idea so take a look at it.
Today, there was news event on CAD and the numbers came negative. This well help to push the market north to the favourable resistance line
Backed up with other indicators such as RSI
. We are confident the market right now is bullish
I have written this post in a hurry so please, sorry for my grammatical errors and spelling mistakes.
Good luck and happy trading :)