Will be watching to see if this plays out for good long-term entries- Triangle forming with a bearish butterfly inside. Overbought and bearish divergence on the RSI. Rejected the supply level circa $2645. **just thoughts**
Bitcoin still struggling to stay above 50 % of the bearish pennant.
GBPJPY near to prz of bearish butterfly , weekly supply overhead , looks tough job for more upside move. Targets marked on chart...
A bearish butterfly has just setup on the 1-hourly chart. This Harmonic Pattern usually will create a V-Top and hardly retest. However, I'm not staying up till 0200(+8GMT) or 21:00(UTC+3), the call is yours, I'll access this tomorrow.
BTC is showing exhaustion on the MACD and RSI at the Logscale 1.618 PCZ of a Bearish Butterfly and looks to be gearing up for further downside. The way I plan play this move is by buying the 3X Short Token for BTC as it looks to be breaking out bullishly on on the Daily RSI and the MACD seems to be ready to make some more Positive Momentum. The weekly for this 3X...
The RSI looks exhausted as BTC continues to try making higher highs and the MACD looks ready to rollover. There is also confluence with the Logscale 1.618 and the Linear 3.618 at these levels and i would not be surprised if we get a corrective pullback to the 20k area. If 20k doesn't hold then i will change my corrective pullback bias to a capitulative crash...
EURUSD came a bit shy away from the Bearish Butterfly entry price at 1.1792 and because of that, the Harmonic Pattern may not form up. Should EURUSD retraces back up, I will watch closely at 1.1781-1.1792 for a shorting opportunity as a trend trading setup.
This is a valid Butterfly Pattern setup. You might ask why is that so? It's because the Stop-Loss wasn't triggered. It has also reached the 1st target. At this moment I'm waiting for the market to retrace back to the black box for a type 2 bearish butterfly shorting opportunity, breaking and closing above 1.1989 will invalid the pattern.
A Bearish Butterfly Pattern is about to form up. Later at 9.30 pm (+8GMT){about 4hours and 45mins}, there is an ECB press conference, will your trading decision get affected by that? Well for me, it's likely that I'll hold back by the trading decision as this Press Conference is going to address a few issues. Let's see if we can use trendline to catch onto the ride.
Bearish Butterfly harmonic pattern formed on daily GBPJPY chart and you can go short here with targets set on chart Happy trading. Nesting Sky.com
Congratulation to those who have shorted EURUSD on the Bearish Butterfly Pattern, if you have not engaged or looking for adding on to a shorting position, you can wait for a retest on the red trendline for a shorting opportunity. Wait for the candle close to ensure it doesn't break and close above would be wise.
Vedl has bearish butterfly in weekly timeframe. PRZ at chart...
At this moment the market is showing a Type2 Bearish Bat Pattern, Aggressive Trader can consider a shorting opportunity for the setup. The 1 thing you need to take note of is the trendline, once it reaches the trendline level, you have to shift stop to entry, that will prevent you from making unnecessary losses. Conservative trader can wait out for confirmation,...
Short term target is between the .5 and .61 fib retracements. Good buy opportunity within that zone imo.
- 127.2 fib ext of XA - 161.8 fib ext of CB - OB RSI
We got a bearish Butterfly on Caterpillar looking like it's ready to come down we could enter now or wait for some bearish divergence either way I'd avoid longing from here and only consider short positions.
I think we'll see a pullback to atleast 10 dollars from here.