GBPZAR - Bearish Butterfly Pattern H4.
The pair shows a beautiful Butterfly pattern forming. Its end point is the beginning of a historic weekly order block. This level hasn't been testes since August of 2020 and it is very likely that there's historically trapped volume at this level and institutional orders are likely to be sitting at this level. The last harmonic projection on this pair from my account was a super success. NB: well harmonic patterns do not always complete so entering into a but is not advised purely based on the projection of a harmonic. Failure of a pattern happens when the pattern fails to complete to D but rather gives a confirmed fail usually at Fib levels 70.7 and 113 respectively. Stay tuned for more updates
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.