coffeteaorme

USOIL Possibility Bearish Butterfly Pattern

TVC:USOIL   WTI Crude Oil
Stop loss should below A

How to trade a butterfly pattern?
1.Move AB should be the . 786 retracement of move XA.
2.Move BC             can be either .382 or . 886 retracement of move AB.
3.If the retracement of move BC             is .382 of move AB, then CD should be 1.618 extension of move BC             .
Consquently, if move BC             is .886 of move AB, then CD should extend 2.618 of move BC             .
4.CD should be 1.27 or 1.618 extension of move XA.
Comment: Looking good for now isn't?
Trade closed: target reached: Hit on point D perfectly.
Are you planning to sell now?
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Welcome back. !
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So far you seem to be bang-on. Bravo!
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coffeteaorme VirtualFax
Thank you
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Hmm, things do change drastically. You might be winning this one ...
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If the butterfly getting ready to butterfly away? : )

Please don't consider it sarcastic; I just honestly believe the triangle is a stronger pattern here. A number of oil related stocks also seem to support the s/t downside for oil. But only time will tell...

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thank you
YOU
MASTER
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I'd rather have a falling wedge/triangle, than a butterfly : )

snapshot
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Saw this idea last night, nice work :)
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coffeteaorme SharkbaitAl
Thank you.
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