A nice Bullish butterfly has formed on an important weekly support level.
OBV divergent, RSI in potential bounce zone.
I like this trade from a strictly TA standpoint, however the mostly bearish sentiment regarding Teresa May and her Brexit struggles has me waiting on the sidelines until reversal from PRZ or fundamental news that confirms a more bearish Aussie...
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On the 4hr GBPNZD a bullish butterfly has formed. The D leg has extended and I believe it has completed. Look for bullish evidence before taking this trade. Use wise money management, cheers.
On AUDUSD 4hr chart a bullish butterfly has formed. The D leg has completed forming. This is a good PRZ zone to take long positions. Look for bullish evidence before buying. Use proper money management, all the best mates.
Hello here we got a nice butterfly pattern.
We will wait for a conformation candle stick now.
Target 1: 1.23281
Target 2: 1.24537
Stop loss: 1.21803
And the butterfly bullish pattern will get decline, if it broke under the 2.618. fibonacci extension A-x-A.
RSI: Altmost oversold.
Hi traders,
Bullish Butterfly on the 1H has been completed. Wait for a double bottom (W) formation on the 15M or 1H chart for a clear sign to enter the trade. Best case scenario would be a double bottom at the low of the day or a sign of weakness at the ADR low.
An entry right as soon as the pattern fires is also possible, but further price action knowledge is...
Hi traders,
Bullish Butterfly on the 4H has been completed. Wait for a double bottom (W) formation on the 15M or 1H chart for a clear sign to enter the trade. Best case scenario would be a double bottom at the low of the day or a sign of weakness at the ADR low.
An entry right as soon as the pattern fires is also possible, but further price action knowledge is...
Here what we can see is a potential harmonic pattern Bull Butterfly. A 3 wave recovery is expected before further downside is seen towards target 104. Bounces should fail below 107.30 high.
Both the BIG Bat & little butterfly are completing within 1cent of each other. Thown into the mix is a 1.618 ext at the same level. Additionally we have S1 a little lower for an additional reason for price to find significant support before heading higher.
I will update on entry, stop & take profit levels once trade is live.
Update to earlier 2 x butterfly pattern which looked as if it was going to complete at 1.272 ext, it did not and stopped me out. But Im back in the game and ready to take advantage of the next logical place for price to turn higher... that being the 1.618 extension!
Lets see how it goes... ill update once trade is live!
Hello traders, it appears XAU/USD is now forming a bullish butterfly pattern on the 1h chart in addition to a bullish 5-0 which I posted on here at the beginning of February.
You can see more on this analysis below.
Two valid harmonic setups are forming in the same area, the bullish 5-0 at $1,300 and the bullish butterfly at $1,295.
The measurements for a...
