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Butterfly

USDJPY-Weekly Market Analysis-Feb22,Wk3If you had not read my post at the bottom, most likely you had missed the Bearish Butterfly Pattern that already gave 69pips of profit on the first target and just visually a bit shy away from its second target that has the potential to bring another 114pips of profit. It is important that in trading, we never, ever, ever chase the trade. However, we could wait for the market to retest back to the consolidation zone in hope of forming a Bearish Bat Pattern or a Bearish Gartley Pattern for us to hop right into the trade or to have an add on of our trade. There are three things that a trader needs to have. First He or She has to be able to read the trend, secondly, the ability to plan the trade execution and lastly to have the patience to wait for the setup to complete.
Short
by RaynLim
XOM Shorting Opportunity?Hello Everyone. I wanted to give you guys and girls a heads up on XOM. I'll Like to share what I'm seeing. Lets start with the euphoric sentiment around the energy sector. As you may know there's a lot of bulls right now calling for oil to keep going up and along with it, energy stocks. When I hear euphoric chatter around a sector or a particular stock, I like to do the opposite of what people are saying. In other words when there are too many bulls, red flags and bells should be going off in your head. With that being said. Here are my thoughts on XOM: 1) The sentiment is too bullish, 2) A lot of good news coming out lately i.e stock buy back announcement recently, which gets the bulls more euphoric and 3) The technicals are pointing to a significant reversal very soon. I illustrated above 2 factors that gives me high confidence of being right. 1) The near completion of wave 5 of the 1st leg imo. Yes I believe XOM will go MUCH higher long term but 1st a major pull back and with this pull back many of the bullish sentiment will be CRUSHED and that will be an opportunity to go long XOM again. And the final factor is a bearish Butterfly harmonic pattern which it happens to align with the final wave 5 of leg of 1. With that being said, Please keep in mind I'm only sharing what I'm doing, I'm not a financial advisor and I'm not telling you what to do. Good luck everyone!
NYSE:XOMShort
by FreedomBuilder
7
BTCUSD BEARISH BUTTERFLY Short Opportunity Targets BITTREX:BTCUSD There is a potential short opportunity for BTCUSD, we can see that there is a `Bearish Butterfly` forming. The first target of 35.5 K is inline with 0.618 level of the larger leg up. Breaking that will start a further downfall towards previous lows or even lower. The bearish butterfly marks the test of the upper trendline for the descending broadening wedge. If BTCUSD reverses from around 31k it would have another go at the falling trendline before retesting the lower trendline and perhaps break it this time. However even after that it is likely for BTCUSD to retest the upper trend line and form an elongated accumulation area along 38 to 32k before going on its next run.
BITTREX:BTCUSDShort
by KaynakiKaymaki