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Bearish Butterfly

AUDUSD - Bearish Gartley & Butterfly Completed on H1 ChartSlightly late when I spotted this, both patterns have completed and price has started to retrace. PRZ for Gartley in light blue, PRZ for Butterfly (in Purple) RSI is showing bearish divergence. DO NOTE : Looking at CFTC FX Commitments of Traders released on 10 Feb 2017: - AUD long 17K vs 12K long last week. Longs increase by 5K - Australian dollar net longs start to creep up. Not sure if there will be a weekend gap up tomorrow morning. R:R if shorting in PRZ : Gartley : 0.9 (TP1) & 1.7 (TP2) Butterfly : 2.5 (TP1) & 4.3 (TP2) It will be best to wait for price to head back up to PRZ first and observe again before shorting.
Short
by lyl89
2
USDJPY Bearish Butterfly and BatBearish Butterfly and Bat Sell Bat Setup ************ Sell at 117.269 Stop Loss at 117.85 Target 1 Fib (0.382%) 116.509 Target 2 Fib (0.618%) 116.054 If Bat pattern Fails than wait for the butterfly pattern to get in *********************************************************************************** Butterfly Setup ******************** Sell at 119.102 Stop Loss at 119.611 Target 1 Fib (0.382%) 117.619 Target 2 Fib (0.618%) 116.689 Keep in mind the bullish Bat pattern on the 4hr chart do not set your targets bellow point D of that bat as chances are it will revers in that area.
Short
by lbrincat
2
USDCAD Will be a great short opportunity for months.-We have a bearish flag and and a bearish butterfly forming on the daily time frame. -At the D point of the bearish butterfly, we hit the 2.0 fib level, and got an instant retracement, which let to form a shooting star. -On the 15 minute time frame we have an ascending channel that is current forming a bearish pennant. If this pennant breaks to the downside, it should break the ascending channels bottom trend-line, and fall down to 1.328500 and face some resistance. If this resistance is broken, it should head down to the 1.3100 level where it will face more resistance. I am looking forward to this Sunday! Happy trading!
Short
by ForrestForex
GBP/USD POTENTIAL ANALYSIS,HARMONICS, PATTERNS, As you can see one of the more complicated analysis where I have targeted where each point may direct themselves. Firstly I just want to say this bearish harmonic pattern has been completed in a smaller scale and failed. Now that I have identified this completion of the potential pattern, I do believe this would cause the breakage of the 130. a solidified barrier that is hard on breaking, however you can see I have identified the first target point which may be looking like a second bottom with the potential wedge to hold its position. This may be a pullback for the set up for longs. If target reached I would be doing another position to long to its next potential destination. Current position: 1.3070 Opening position: 1.3070 Target point: 1.2965 Exit point: 1.3147
Short
by Exogenous
NZDUSD bearishnessNZDUSD has been strong since the start of the year but it doesn't mean we don't get to take short trades especially when price reaches key fibonacci retracement levels. If I try to plot a bearish butterfly, I can enter a short at 0.742 with a second chance to short at 0.752 which is the 50% retracement in the weekly. This trade idea are for traders who set stop losses. Personally, since I don't set stop losses, I'll be shorting NZDUSD even up to 0.792. But that's just me.
Short
by traderh