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Butterfly

Thoughts on USDCADHello again! Here we go with USDCAD. First of all if we look at a major time frame, we can see a Butterfly pattern. Now this is not as strong as other butterfly pattern, so I based the entry point with the break of the bearish channel right before it started to react. I'm expecting a bullish movement here and I think the price is just gonna move a bit upwards and it is coherent with both patterns. If it breaks the SL, then it surely will not go up. Operate with lower risk as we have strong news this week.
Long
by pinoso
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MIL:1MCLong
by d-MR96nBa
7
Butterfly on BTCBeen on vacation for a while and finally back to the chart. What you see here is a potential butterfly on BTC. Trade should be taken between 34.5k - 35k. Confluence for this trade: - 3 Fibonacci Gan Fan. - Golden pocket. - Butterfly Harmonic with a 1.27 fib level. - Monthly level - Naked POC. - Elliot wave 4 count There are probably way more confluence why the price is likekly to fall on this price. Stoploss above invalidation (35k). TP levels: 30k, 27k 25k and 20k.
COINBASE:BTCUSDShort
by Chahin073
3
DARUSDT bearish butterfly in formationDARUSDT bearish butterfly. The price action is in a confluence with the double bottom formation of BTCUSDT. The Fibonnacci ratios is wonderfully converging with local support and resistence. A Potential Reversal Zone (PRZ) is expected from D point 1.41 Fibonacci extention ratio. Oversold condition for the intraday and hidden bullish divergence on Ehlers' Fisher Transform oscillator (detail in aupdates). Ehlers' Fisher Stochastic Sinewave bullish after price action retrace from 50% to 88.6% Fibonacci Retracement. 14.6% Fibo targeting in conjuction to expected XD leg upward Butterfly extension. That's the perfect scenario for a pullback and I bought a buch of DAR tokens for 1USD. Not a financial advice, only my technical analyses.
Long
by firmestudio
1
APE - Harmonic ButterflyMy favorite Harmonic pattern, Butterfly ... The Butterfly Pattern®, The general extension structure of the Butterfly Pattern® was discovered by Bryce Gilmore. However, the exact alignment of ratios was defined in Scott Carney’s 1998 book, “The Harmonic Trader.” This has become the industry standard for the structure. Scott’s ideal Butterfly Pattern® requires specific Fibonacci ratios to validate the structure. These measurements include a mandatory 0.786 retracement of the XA leg at the B point, which defines a more precise Potential Reversal Zone (PRZ) and more significant trading opportunities. Also, the Butterfly pattern® must include an AB=CD pattern™ to be a valid signal. Frequently, the AB=CD Pattern™ will possess an extended CD leg that is 1.27 or 1.618 of the AB leg. Although this is an important requirement for a valid trade signal, the most critical number in the pattern is the 1.27 XA leg. The XA calculation is usually complemented by an extreme (2.00, 2.24, 2.618) B-C projection. These numbers create a specific Potential Reversal Zone (PRZ) that can yield powerful reversals, especially when the pattern is in all time (new highs/new lows) price levels.
Long
by Double_R_86
2
NZDJPY Potential reversal at 87.692, Public Journal #3NZDJPY has been trending up for a long period of time, so I know price will pullback eventually. I've noticed price has now entered a consolidation phase, due to price being exhausted from the endless uptrend, in that consolidation, price has done the peak high, so any short scalpers are now coming into play and trade away from the high. There is a support level of 85. where many late buyers will use that opportunity to add a long position, because in their eyes, price is still in an uptrend after creating a higher low. But also looking to the left, I can sport and inverted H&S in the pullback to make it look complex. However, from the trained eye, one will use that as confirmation to initiate a long position. That's a small insight to what I've seen, the rest is down to the charts.
by BeaucoupPips