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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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.