A bearish butterfly pattern has completed and reacted slightly, so I am a little late. As such, I will wait for a pattern retest at the PRZ area. R:R at 1.5(TP1) and 2.6 (TP2). Good luck.
The chart above shows a nearly perfect Bearish Butterfly that has been playing out. I say nearly because the only place where it has fallen short is the D leg. Which based on the rules of the butterfly, should have completed itself right at 10k (based on BitMex charts). However, IF the local top IS in, based on fractals of recent harmonics (see previous...
On the USD/CAD 4hr chart we see a bearish butterfly has formed. We expect price to fall from this high extension since the pair was ranging before this breakout. I believe the price is at a good point to go lower, good time to sell. Look for bearish evidence before taking this trade.
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On the 4hr Chart, a bearish butterfly has formed. The D leg has completed its extensions. This looks like a good trade to take. Look for bearish evidence before taking this trade. Our targets are the 1.597 and the 1.568 area. Use proper money management. All the best
IOTA has had a really nice run up in price recently which has lead to it missing a number of central pivots (2 daily / 1 weekly) which lead me to take a closer look. When I did I saw that I dragged a fib and saw price react off the 78.6% level which looks to be like B in and ABCD of a Butterfly. The Butterfly could turn at 1.272 or 1.618 extension, once price...
Reasons that may push USDCHF -0.01% down Reason 1: Test of Resistance TL Reason 2: D leg of Bearish ABCD pattern Reason 3: D leg of Bearish Butterfly pattern We just need some clear Sell signals on smaller TFs such as H1 or M30
Lowest ideal price target according to set up patterns, Bearish Butterfly target: $7,300; H&S, and Broadening wedge pattern target $7,400 Fibonacci 161.8% $7,500
Hi traders, Bearish Butterfly on the USDJPY 4H has been completed. Wait for a double top (M) formation on the 15M or 1H chart for a clear sign to enter the trade. Best case scenario would be a double top at the high of the day or a sign of weakness at the ADR high. An entry right as soon as the pattern fires is also possible, but further price action knowledge...
Hi traders, Bearish Butterfly on the 4H has been completed. Wait for a double top (M) formation on the 15M or 1H chart for a clear sign to enter the trade. Best case scenario would be a double top at the high of the day or a sign of weakness at the ADR high. An entry right as soon as the pattern fires is also possible, but further price action knowledge is...
eurusd-short after completion of a pattern based bearish butterfly seen @tf=daily. not a reco as will be used for the FXSamurai task fulfillment..
Price has not covered PRZ, so the bearish butterfly pattern has not completed although RSI has hit overbought level. Let's wait for pattern completion to ensure criteria met. R:R at 2.4 (TP1) and 4 (TP2). Good luck.
A potential bearish butterfly pattern may complete next week. Wait for RSI to hit overbought level. Good R:R at 1.6 (TP1) and 2.9 (TP2).
GBPCAD is reversing from major resistance level with confluence signals in the chart
Since bearish butterfly down trend has been active. Bullish reversal just happened, but lacked momentum upwards. I seize this opportunity to go short.