A Bearish Butterfly rested in the key resistance zone is usually a perfect setup for me, however, there are some imperfection on this setup.
A break and close above the previous Bearish Trendline. This is true, but at least it didn't break and close above previous structure, fingercross.
The next thing I'm not comfortable is that the 4-hourly chart has an...
When a Bearish Butterfly is used as inflationary measure, Eventually, those two peaks from W becomes two peaks of M as deflationary measure.
It could extend for more, we have seen it in the past in other graphics, but that would depend on many factors.
So, for now, basic setup
// Personal ideas and knowledge i have gathered after thousands of...
The cup and handle currently being formed would suggest we go higher, but the coinciding of the 200MA on the daily timeframe with the bearish butterfly harmonic pattern suggests that upward pressure will be cut short around 24150, finally marking the highest point of the bearflag and it's breakout to the downside.
We have a bearish butterfly showing on the Bitcoin chart. We will see it reach Fib extension 1 at which point it will have reached the highest point of the bearflag, thus reversing and trending towards 11k over the coming days.
Open - 1.28916
TP1 - 1.29099 (target already reached)
TP2 - 1.24514
TP3 - 1.24015
SL - 1.33499
Please note that my setups are not signals to trade but my own personal analysis and predicted direction. To enter a trade it must be validated by multiple different indicators and confluence factors.
If you have been following my analysis, you would have known that it is unusual for me to share a Weekly Market Analysis on a 15minutes chart.
A Bearish Butterfly Pattern complete at 1.0788 for a shorting opportunity. If this became a valid setup, I could upsize my trading profit to the 4-hourly chart level. Link at the bottom.
That's how Winner trade ;P
Hidden bearish divergence and bearish butterfly pattern at 1H TF. We might dip to around 0.0201 and 0.0196 . From there it will create a bullish butterfly pattern. We will bounce from that level and reach 0.0208 and 0.0211 . If we get a candle close above the bullish pennant pattern, we will most likely go back to 0.0220 .
Will be entering an Initial Short Position now and will be entering a Deeper Position if after the Bank of Japan releases their minutes tonight we don't see a sudden decline in the JPY to invalidate the pattern.
We might dip back to 0.0170 and most likely bounce from there. We might reach levels back to 0.0185 and possibly 0.0190. RSI resistance is being retested, we will know if we will bounce back or dip back inside the RSI triangle. We might also dip lower than 0.0170 which is 0.0162 due to the hidden bearish divergence.
- Hidden Bearish Divergence
- RSI resistance...
Looking at 1H TF, It seems that we have a hidden bearish divergence in the chart. Supporting the hidden bearish divergence is the bearish butterfly pattern as well. We might go down back to 0.0157 and from there we will bounce very high for long term.
If you have engaged the EURUSD trading ideas on Friday, you would have earned 106pips(1,060USD/lot) from Bullish Bat, and have your stop-loss at entry and attained a risk-free trade .
Trend Traders can wait for a shorting at 1.1307. You may wonder, hey, you were long on the 4-hourly chart, why look at short on that 1hourly chart.
If you have checked and...
Price action and chart pattern trading
> Bearish butterfly harmonic pattern limited upside
> Take profit 50% long term uptrend
> Target downtrend at B position of butterfly / EMA10 / Fibonacci 0.618
Always trading with affordable risk and respect your stop loss
If you have read the previous post(the article is within the link to the related idea within TradingView), the Bearish Butterfly has already brought you 167pips(approx. 1,670USD/lot traded) of profit.
Should the market continue to fall and reach 114.58, it will be a Bullish Gartley Pattern for trend traders to hop on the trade for a buying opportunity.
If you had not read my post at the bottom, most likely you had missed the Bearish Butterfly Pattern that already gave 69pips of profit on the first target and just visually a bit shy away from its second target that has the potential to bring another 114pips of profit.
It is important that in trading, we never, ever, ever chase the trade. However, we could wait...
Here we have a Bearish Butterfly Pattern on the 4-hourly chart. On the higher timeframe, we have a Bearish Deep Gartley Pattern at X that is just a few pips away from completion.
I've shorted the USDJPY because of these two combinations. Furthermore, I have an RSI Divergence on the current timeframe.
The second target has a more than 2:1 ratio.
Let's see how...
A Bearish Butterfly has formed on the AUDCAD chart, if you are an aggressive trader, you may consider engaging it.
Butterfly Pattern is 1 of the most misunderstood level. Many traders are confused about its completion level and have been guessing the stop-loss level.
If you are one of those people, don't trade the Butterfly Pattern until you got the right mentor.
Hello Everyone. I wanted to give you guys and girls a heads up on XOM. I'll Like to share what I'm seeing. Lets start with the euphoric sentiment around the energy sector. As you may know there's a lot of bulls right now calling for oil to keep going up and along with it, energy stocks. When I hear euphoric chatter around a sector or a particular stock, I like to...