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Butterfly

SHIBA Trade SetupAs we go into the weekend here is a little trade setup in the altcoin market that looks ready for a nice runup. SHIB is currently tying to put in a bullish engulfing Japanese candle stick on the daily as well as finding support at a strong local support level. If this level holds, SHIB could find itself in a 25% move to the upside if this Bullish Butterfly Harmonic pattern is to play out which would give it a tentative targeted move to $0.000009 roughly. However, once this target hits, I would be expecting the D leg of this harmonic to bring us back down past our previous low set around July 20 by doing a 120% retrace of X to A. This would give us a final price target of $0.00000448 roughly. This area should make for an excellent buy opportunity. Keep in mind that as always this does not have to happen. $0.000009 is the immediate target I am watching for but it would not be out of the ordinary for SHIB to retrace shallow and not do the deeper .886 retracement I am expecting. This is something to keep in mind as well but due to the fact that we are holding snuggly on the .236 local Fibonacci level, this was enough assurance for me to take a long. Also keep in mind that this does not have to play out in a few days. I expect this to take roughly 1 to 2 weeks as that is the time it took for the B leg to play out. If this is to be somewhat symmetrical, I expect about the same amount of time to complete the C leg as well. Apologies for the harmonic coordinates being a hair off but hopefully you get the general idea as the pattern is most definitely there. Lastly, something to always watch for is a dump in Bitcoin price. Everything in the crypto world has a strong beta to the king Bitcoin, so if Bitcoin is not performing well that could effect the outcome of this trade as well. On the flipside, BTC has seen a nice runup and a slight pullback this weekend for Bitcoin could mean a nice pump for altcoins not named Ethereum, due to the fact that ETH has already had a major pump.
Long
by TradeVibez
2
$US30 butterfly to Cypher Double pattern Lets see guys this hit tp 1 (missed trade) and is headed towards 618 watch reaction there for bearish price action and see if it can hit tp 2 at 618$ / (1bill$), might snap higher ES and NQ, treading lightly rn guys very ;lightly, i do not care for this many obvious patterns, feels trappy, but working so far ! Pls give it a break w i can go back and change plays etc and entries , no i do not know anyone who can either and i certainly do not know anyone at @tradingview. Once you post them they can not be altered, These messages crack me up FR who has time for this stuff lol Stop doubting what's possible and study!!!
ULong
by Hiddenharmonicstrading
GBPJPY - Bullish Butterfly ExtensionWe have a Head and Shoulders Pattern and it's completion come into the Bearish Shark completion. Well, it gives a 1:1 Reward:Risk but we are looking at 140pips of risk. WOW!! Not for me man! So instead of buying at 1unit, I'm going to wait for the butterfly pattern setup, a bullish butterfly completing at 151.05 for a counter-trend trading opportunity off the 15minutes chart but a trend trading on the 4-hourly. For this setup, I would rather miss the trade than to put myself in a 140pips risk.
Long
by RaynLim
Bitcoin Butterfly HuntingBitcoin appears to be gearing up for its next leg to the upside but there are short term bearish things happening right now that should be on ones radar first. For one, we are breaking below our upward sloping price channel AGAIN and although it is not yet confirmed on the 4 hour timeframe yet, the fact that Bitcoin has failed after 11 four hour candle attempts to break and hold the $48900 level suggests that a retest of lower levels could be in store soon if a local higher high is not put in soon. A level according to what we see with our own eyes on the chart is a very strong level of resistance. And now we find ourselves again getting rejected at it which gives one the feeling that market makers could be looking to send the price back to our 50% retracement area of support in my personal opinion. Another key indicator to validate this opinion I have is in the fact that price action has begun confirming a 78.6% retracement of X to A on the chart which sets us up for a potential Bearish Butterfly Harmonic pattern. The beauty of the bearish butterfly however is that it gives us a higher high but the follow-through once price has hit the Potential Reversal Area is often bearish on these harmonics. For the bullish case one will want to watch the $49600 area. If price comes back up to this level and breaks it, then this harmonic could be in the process of being negated. On the flipside, having buy orders waiting around $46829 would be a good idea as this is not only a great support area at the .5 fibonacci level.. but also the bottom of the C leg of the Bearish Butterfly pattern, something that in my opinion is no coincidence. Please note this does not HAVE to happen. Price could reverse from here and go much higher than $49600 or go lower from here and break our .5 level altogether as well. However, if this is to playout, the $51400 price area appears to be a wise area to take profit if a rally is to eventually come again anytime soon.
Long
by TradeVibez