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Bearish Butterfly

USD/CAD - Bearish ButterflyI've not posted on here for almost two months since taking the time out to develop core material for my trading course but I'm back with a huge setup! We're looking at a potential bearish butterfly on a 4h chart for USD/CAD. Make sure to keep this one on your watchlist, we'll be watching this heavily going into next week. I'll be expecting price to stall out around our D point, completing our pattern then a sharp move to the downside. This harmonic pattern looks extremely powerful when you take into consideration the analysis below. Going forward I will be providing analysis on a regular basis for my followers, I hope everyone has a great weekend!
Short
by LewisGlasgow
3
Complete Analysis of Nifty : R u guys ready to trade Nifty ?? Yesterday all you guys had very good expiry day , I hope ! So for coming days we are ready with our analysis for Nifty. The reversal zone marked has few fib confluences too which I removed as the chart looks messy. Right in our resistance zone we have potential bearish butterfly completion where we can initiate our short positions for smaller pattern based targets. Nifty is rising up like a rocket for past two days and bulls will take rest for sometime which will result in pullback towards 7900-7950's ( I marked the zone wide, which is intentional too) If the expected pullback happens then we can initiate long positions and note that Nifty is already heavily overbought more than 95 RSI. Some will have apprehensions to go against trend (i.e) to enter the bear butterfly, if you feel so pls stay out n watch how it pans out. There is absolutely no harm & ur capital is also safe and you guys can enter later during the pullback . If you Like this Hit Thumbs Up / Comment your views too.. Happy Trading !
NSE:NIFTY
by InsiderB
10
AUD/CHF - Bearish ButterflyIt's a Sunday night, we have an amazing week ahead of us let's start off with AUD/CHF on the 4h chart which is forming a bearish butterfly. As you can see from previous price movement our pair is creating a channel, I would like to see price spike up to hit our D point completing the bearish bat pattern at 0.74700 then just drop straight back down. If the pair is struggling to push higher it may stall out at our 2.618 retracement then start to make a move to the downside, we'll see how this one plays out.
Short
by LewisGlasgow
3
Short EURJPY: 5 ReasonsEURJPY is showing bearish price action in the PRZ of multiple confluent harmonic patterns. After completing a bearish bat, price was rejected at the PRZ and is retesting the reversal area. In this area we have two bearish butterflies that have completed at trendline resistance and a bearish Wolfe wave setup as well. To add to the bearish bias, two unhit weekly pivots sit below price. Confluence in the PRZ: 1. Bearish bat pattern completion 2. Two bearish butterfly pattern completions 3. Unhit weekly pivots below price 4. Bearish Wolfe wave setup 5. Trendline resistance Thank you for viewing and please don't forget to click the thumbs up button and follow for future updates and more trade ideas!
Short
by glennmercer
SHORT NZDUSD: WOLFE WAVE + GARTLEY + TREND FOLLOWINGNZDUSD completed a bearish Wolfe Wave pattern last week and is nearing the PRZ of a bearish Gartley to possibly continue its movement south. This pair has been in a 14 month long downtrend and the steep pitch of the 1-4 Wolfe Wave target line signifies a deeper continued drop is possible. Those who missed the WW sell entry will have an opportunity to enter when price approaches the Gartley PRZ. If price should pass through the Gartley PRZ without showing signs of reversal the next levels I will look for are the completion of the bearish butterfly and bearish crab patterns. Targets are placed at the .382 and .618 retracements of AD and longer term traders may want to monitor price action for signs of bearish trend continuation. Bearish Confluence: 1. Bearish Gartley pattern completion 2. AB=CD pattern completion 3. 1.618BC projection 4. 14 Month downtrend 5. Bearish Wolfe Wave Thank you for viewing!
Short
by glennmercer
Short GBPAUD: Bat + Butterfly + AB=CDGBPAUD is forming a potential confluence of 3 pattern completions in a tight PRZ. In addition to a precise alignment between the completion of a bearish bat and a bearish butterfly, an ideal alternate AB=CD reciprocal ratio completes in the area as well (.707/1.41). Targets placed at the .382 and .618 retracement of CD. Confluence in the PRZ: 1. Bearish bat pattern completion 2. Bearish butterfly pattern completion 3. 1.41AB=CD 4. 2BC Projection Thanks for viewing and please take a second to click the thumbs up and follow for future updates and more trade ideas!
Short
by glennmercer
WW T2 Achieved: Now Short on Wolfe Wave, Bat & ButterflyEURJPY has achieved Wolfe Wave T2 (attached below) and is completing a series of bearish patterns in a confluent reversal zone. On the longer TF, a 1.13 projection of 0X lies at the top of the PRZ. There are also bearish bat and butterfly patterns completing in the area of a Wolfe Wave SELL zone. Missed pivots lie below price which may also drag down price. Entry in the middle of the PRZ with targets at the 1-4 WW target line and the .618 allow for a R/R of about 2.5. Confluence in the PRZ: 1. Bearish Bat Completion 2. Bearish Butterfly Completion 3. 3.14BC 4. 1.13 0X 5. AB=CD 6. 3 bc Projections 7. Bearish Wolfe Wave completion Thanks for viewing and don't forget to take a second to hit the thumbs up and follow for future updates and more trade ideas. Comments welcome! Long on Wolfe Wave: Long on Bullish Crab:
Short
by glennmercer
The Butterfly with an empty soul // Completed?FX:USDCAD As previously published, the price reached "the expected area", Butterfly "almost" ready to engage, however, I think there is something missing , AB=CD pattern ends slightly above, the 61.8% retracement also very close, price action printing higher lows and lower highs , looks like, or, probably one bullish pennant is being forged here... *Keep an eye on this flyer... Previous published idea: BEARISH BUTTERFLY Point B: 78.6% XA Point C: 38.2% AB 88.6% AB Point D 161% ext BC 261% ext BC Targets: TP1 61.8% CD TP2 127% CD Ratios: Safe Trades; open.spotify.com
Short
by Andre_Cardoso