Well this is quite a sight to behold.
Seems like a good lesson in structure levels!
The overall trend is strongly bearish (4H and more), but we got ourselves a little upward move with a very strong ceiling.
Will it retrace and break the trendline?
Let me know what you think!
Although the title only says 'bearish butterfly', there are a number of things I wanted to show you guys here (hence the cluttered chart, I'm sorry about that).
I'm not going to go into great detail because we have yet to find out which "indications" are going to prove useful.
Lets take a look:
- Structure: A lot ...
About a week ago I posted the bullish butterfly I that seemed to be forming (as you can see in the background), so I thought I'd give you an update.
A lot has happened during the past week:
What we can see is that the market has been running into the resistance-turned-support level (135,55ish) several ...
Hey everybody, I just wanted to share this idea before we head into the weekend.
GBP/JPY has been trading up off the 200MA for a while now and it doesn't look like there is going to be a reversal anytime soon. We have a few tasty support/resistance levels in combination with what seems to be a bullish bat pattern. ...
Hey guys, as some have already noticed there seems to be a head & shoulders pattern forming on the daily chart. The 200MA acts as a resistance level for the shoulders along with some structure earlier this year.
It all corresponds with the butterfly I posted earlier, so if it breaks around the 133.190's we might be ...
Hi everyone! This is my first published idea so please be gentle ;)
I noticed a possible bullish butterfly forming on the 4H chart. It seems to tick all the boxes so far, so I will be keeping a close eye on it.
It'll take a while to complete, but it might just be a chance to go long.
I'm very keen to hear your ...