Potential AB=CD if price action gets to the previous structure resistance. Looking to sell at that price and take our profits off at 2.00351 and trail stops after price action has hit tg. 1. Great risk/reward ratio also.
Fibonacci Confluence, Structure at 138.835 if you look left, and an AB=CD pattern. Buy up 138.835. Tg. 1 is the .382 retracement of the CD leg. Tg. 2 is the 1.618 retracement of the CD leg. Great risk/reward ratio also.
Potential Bearish Gartley Pattern. But I wouldn't take it, terrible risk/reward ratio here. Even if price action goes to C, goes to D and then fills the first and second green lines (targets). Must have rules for these sorts of patterns. You can't always take them, look for the high probability trades.
There are many ways to play out a butterfly pattern, but I stuck strictly with the rules of the pattern for the best probability. Scott Carney says that the most critical number is the 1.27 of the XA leg extension. So that's where I placed my entry and I put my stops above previous structure.
Potential Bearish Gartley Pattern,
the blue rectangle is where you can get in. If price action exceeds the X point, this pattern is invalid. So ive placed stop points above the x to give the market wiggle room. Only time will tell. I like this setup also because the reversal point is coming right up to key structure point if you look left!