A Bullish Butterfly form at 1.0045 could be an opportunity for counter-trend traders to wait for a counter-trend trading opportunity that completes at that price. However confident you are in the trading setup, it is important to wait for candlestick confirmation before engaging in the trade.
CRUDEO is in a bearish trend . The price action is currently testing the Support Zone after forming a Bullish Butterfly pattern in addition to a Bullish Candle Pattern near point D . Expecting bulls to push prices higher.
I found out that Canadian Dollar/Swiss Franc forming a bullish butterfly harmonic pattern with the correct measure using Fibonacci for harmonic. But I see that CAD/CHF as forming this bullish perspective. I believe that CAD/CHF will continue drop, yes drop but doesn't drop as I expect because we see a wick of manipulation zone that institutional are interesting to...
Open - 1.01854
TP1 - 1.03621
TP2 - 1.06216
TP3 - 1.07654
SL - 1.00712
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.
A potential Bullish Butterfly Pattern might just catch the falling knife. I'll be waiting for the candlestick touch the furthest line of the rectangle at Point D and show me a confirmation sign to engage the trade.
Retest on Point D will not be the requirement for this trade.
Consider this a companion setup to the previous one that spotted a Bullish SHark at this area; that trade is sttill active at a 1.618 and so is this one the Bullish Shark setup is in the related ideas tab below.
We are at a PCZ of a Bullish Butterfly printing a Potential Right Shoulder of an Inverted Head and Shoulders Pattern Visible on the Weekly with a bit of Bullish Divergence to top it off.
My Stop loss will be below 10 cents and my TP will be above 30 cents.
CADJPY is on a Bullish Trend, trend traders could wait for a Bullish Butterfly Pattern that form on the 4-hourly chart for a buying opportunity. Should that happen, I will need to see a 3-bar reversal at 96.90.
Sbin made bullish butterfly pattern on an hourly chart with decent volumes & mammoth OI in 500 CE & trading above 500 hints at massive short covering.
Could be bought with mentioned stoploss & targets.
SBI 500 CE cmp 20 stoploss 17.20 target 25.