The Bearish Butterfly setup with price levels:
📍 Entry
Around point D, which looks close to $4,186–$4,190.
🛑 Stop Loss (SL)
Safest SL: Above 1.27 XA extension (slightly beyond D) → around $4,230–$4,240.
Conservative SL: Just above 1.618 XA extension (~$4,255).
🎯 Take Profits (TP)
We use Fibonacci retracements from the AD leg for targets:
TP1: 38.2% retracement of AD → ~$3,960
TP2: 61.8% retracement of AD → ~$3,800
TP3: Full retrace to point B area (~$3,700)
📍 Entry
Around point D, which looks close to $4,186–$4,190.
🛑 Stop Loss (SL)
Safest SL: Above 1.27 XA extension (slightly beyond D) → around $4,230–$4,240.
Conservative SL: Just above 1.618 XA extension (~$4,255).
🎯 Take Profits (TP)
We use Fibonacci retracements from the AD leg for targets:
TP1: 38.2% retracement of AD → ~$3,960
TP2: 61.8% retracement of AD → ~$3,800
TP3: Full retrace to point B area (~$3,700)
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.
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.