Just sharing for anyone back testing Butterfly Patterns
Hi Traders,
Wanted to share this with anyone currently back testing Buttefly patterns.
Rules being followed for this Pattern:
BUTTERFLY
Point B -
At least 78.6% XA
(must close below 88.6%)
Point C
At least 38.2% AB
(must close below 50%)
Point D
161% AXA -2.26%
Fib Retracement( Bearish )
Or
161% AB confluence –
( Bullish )
Profit
38.2% AD
61.8% AD
Wanted to share this with anyone currently back testing Buttefly patterns.
Rules being followed for this Pattern:
BUTTERFLY
Point B -
At least 78.6% XA
(must close below 88.6%)
Point C
At least 38.2% AB
(must close below 50%)
Point D
161% AXA -2.26%
Fib Retracement( Bearish )
Or
161% AB confluence –
( Bullish )
Profit
38.2% AD
61.8% AD
Trade active
Trade closed: stop reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.