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CromerKing
Feb 10, 2015 6:11 PM

USDCAD Bearish butterfly pattern with somewhere to put stops. Short

U.S. Dollar/Canadian DollarFXCM

Description

Don't normally trade butterfly patterns because normally there no where to put a stoploss in but this one is at the x leg and there's some structure a little higher up too so better to go above that. Overbought too. Targets based on a 3.82 fib retracement. You could be more conservative on the stops if you wanted to.
Comments
Barker123
It seems to be a bearish gartley.The trade looks good to me as my IT harmonic tool shows it.
CromerKing
Gartley should be a 127 fib extension of the b-c move I think?
CromerKing
Completion and entry reached.
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