The descending butterfly pattern
Harmonic patterns generally have good reactions. In the first step, the 38% Fibonacci retracement level, and in the second and third steps, the 50% and 61.8%, respectively. However, at the beginning of the trend, we should wait for confirmation with a bearish candle.
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.