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Bearish Butterfly

Possible Wave 3 in progress going LONGIt seems we have a possible Wave 3 in progress going LONG on the Daily, all the way to the top of the trendline. There is however, a possibility that price action will reverse and form a Bearish Butterfly Harmonic pattern, where a more precise entry setup would be visible, after pinning the Blueberry EMA. Water and Mayo EMAs show current uptrend which would confirm the most probable trend at the present point in time. In terms of TDI, it shows higher than normal probability of bullish trend at this point in time. In my opinion, it is quite probable that the price action will continue in a bearish trend with completion of a Wave 3. Caution is highly recommended on entry on this stock, as I do not currently see any structure that could be used for an entry, other than watching the 15 Minute chart and confirmation of a breakout of structure. ---------------------------------------------------------------------------------------------------------------------------------------------------------- DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar. This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out. .....::::: If you like this chart, please click on the THUMBS UP ! :::::..... ----------------------------------------------------------------------------------------------------------------------------------------------------------
NASDAQ:TSLALong
by UnknownUnicorn661419
GBPUSD - Bearish Butterfly Completed on Daily ChartPattern completed last week with price closing below PRZ. I'm waiting for a retest : Price to at hit PRZ and RSI to hit overbought level again before considering to take a short trade. Based on the ED channel I've drawn, trend seem to upward. A short near or at the top of the channel will be ideal. Good R:R at 3.1 (TP1) and 5 (TP2). Do adjust lot size according to your risk appetite. NOTE : This is a counter trend trade, trade with caution.
Short
by lyl89
It's $TRUE - Potential Bearish ButterflyPotential Bearish Butterfly This chart is posted on our free blog. Have to clear the 15 dollar handle. PRZ at approx 15.60 Can be played long with caution on the way up and traded short at PRZ We only set a T1 at where it's traded now for this trade but will most probably make an ABC correction back at where it's traded now. We choose only to trade it up and first leg down. Then er exit the trade and on to many of the other possible trades. Our specialty is trading the futures live giving signals to help you in your trading! Stay Sharp on Charts at WALLSTScalper.com
NASDAQ:TRUE
by CoinedByCrypto
GBPUSD - Butterfly Pattern after Bat Pattern on H1 ChartThe bat pattern in yellow has already completed and reacted and reached TP1 at around 1.2446, but hasn't hit TP2 indicated by the purple line, cheers for those who have already locked in some profits. However, I spotted a possible butterfly pattern forming soon around 1.2465. At the same time, RSI is on its way to overbought level. R:R at 1.7 (TP1) and 3 (TP2). What I'm trying to convey is that the bat pattern might not hit TP2 due to traders spotting another pattern (butterfly pattern in this case). As such, there MIGHT be a reversal at PRZ for the butterfly pattern. Always note that harmonic patterns may not be perfect all the time. If you happen to spot such occurrence as well, you will probably adjust TP2 to the PRZ instead, prepare for a short position if price really reacts to the next pattern. Some profits is still better than no profits. =) I will update if pattern completes.
Short
by lyl89