BULLISH BUTTERFLY WITH A HUGE RR. TP1 AT 38% AND TP2 AT 61% LEG AD
so long position? whynot
My first weekly chart ever :-) I think it is quite probably scenario DAX fall to 7600 or even 7400 to complete butterfly advanced harmonic pattern. Obviously pattern itn't exactly perfect, as B point should be in 78.6% of XA, but in trading nothing is perfect and actually mathematics is great in drug store rather than here :-). More about this pattern - here
Hey traders, So we just came off our last Bat and we are setting up for another potential Bat Pattern. This could be signaling possible consolidation, which is good for harmonic patterns. Remember, stops below X and targets at the 38.2 and 61.8. If your rules do not allow for patterns, do not trade them, stick to what you are doing because hopefully you have...
Potential Reversal Zone at 2.1236 with potential targets at 2.1640 and 2.1885. For the brave souls that choose to take this trade, stops should be below the 2.1075 level.
FX:USOIL CYPHER: Point B: 38.2% to 61.8% XA Point C: 127% to 141% ext XA Point D: 78.6% XC Target: TP1 38.2% CD TP2 61.8% CD BUTTERFLY Point B: 78.6% XA Point C: 38.2% AB 88.6% AB Point D 161% ext BC 261% ext BC Targets: TP1 61.8% CD TP2 127% CD iMPULSE LEG: Wave 2 = 61.8% of wave 1 (Prices usually do not retrace more than 61.8% of the wave one gains; ...
Looks like an emerging Butterfly pattern.
Potential revers at 1.127 due to the followings :- 1- Valid butterfly pattern. 2-valid structure level 3-0.764 fibs retarcement for AB leg. 4-1.414 fibs extension for BC leg. 5-RSI overbought
FX:USDCAD BAT: Point B: 38.2% to 50% XA Point C: 38.2% to 88.6% AB Point D: 88.6% XA Targets: TP1 38.2% AD TP2 61.8% AD BUTTERFLY Point B: 78.6% XA Point C: 38.2% AB 88.6% AB Point D 161% ext BC 261% ext BC Targets: TP1 61.8% CD TP2 127% CD
Pair strongly influenced by OIL price and this one will continue rising, but the downtrend remains. A bearish Gartley pattern and double top are present but no divergence at sight. Taking in consideration OIL price, there is a possibility that this pair continue a little bit higher, in that case, a bearish B-Fly emerges and will pressure top channel on D1...
this is also a butterfly on a resistance. TP at 38,1 and 61,8 AD as usual
bearish butterfly on AUDCAD with a beatiful RR entru on 1,0060 SL: 1,0088 tp1: 0,99258 tp2: 0,98443
Potential reverse at this zone due to :- 1- completion of Three drives pattern. 2-completion of ABCD pattern. 3-completion of butterfly pattern. 4-valid structure level.
The Potential Reversal Zone on this butterfly pattern is right above a previous major low. Because of this the risk is tiny compared to the reward. (1:10 for target 1), (1:18 for target 2). Entry at 27.74. Stops below 27.56. Potential targets at 29.95, and 31.37.
FX:AUDCAD CYPHER: Point B: 38.2% to 61.8% XA Point C: 127% to 141% ext XA Point D: 78.6% XC Target: TP1 38.2% CD TP2 61.8% CD GARTLEY Point B: 61.8% can not touch 78.6% XA Point C: 38.2% to 88.6% AB Point D: 78.6% XA 127% ext AB Target: TP1 38.2% AD TP2 61.8% AD BUTTERFLY Point B: 78.6% XA Point C: 38.2% AB 88.6% AB Point D 161% ext BC 261% ext...
Very nice high probability setup here on AUD/USD as we get 3 advanced patterns completing roughly at the same level. Stop Loss dosent have to go below X of the large Bat because we have a completion of the Crab and Butterfly at this level as well and we know if the market goes further then the 1.618 of the crab and 1.414 of the butterfly the patterns are invalid....
The pattern does not look ideal as the move A-C should have been 0.382 or 0.886 retracement of the A-B. Nevertheless completion of the butterfly suggests a possible bullish rally. 0.011 area has been a short-term supportive trendline but has eventually been broken and is currently representing the area of interest that can potentially be retested within two days....
Bullish Butterfly, D leg near strong resistance