CADCHF potential Bearish Butterfly
There is a possible advanced harmonic pattern forming - Bearish Butterfly
Here are met parameters so far:
- AB leg is a 88.6% fib retracement of the XA leg
- BC leg is a 61.8% fib retracement of AB leg
In order for the pattern to complete:
- CD leg has to reach a 127.2% fib extention of XA but not break 161.8% extention
Here are met parameters so far:
- AB leg is a 88.6% fib retracement of the XA leg
- BC leg is a 61.8% fib retracement of AB leg
In order for the pattern to complete:
- CD leg has to reach a 127.2% fib extention of XA but not break 161.8% extention
Order cancelled
Price as invalidated our pattern by not being to break through resistance and has instead formed a consolidation channel
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