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Butterfly

Get Ready For Second Big Bullish Wave Of Ox (ZRX)SMA and key level support: After a powerful bull run the price of ZRX dropped at a very strong support of $0.50 which is a key level of support for the priceline of ZRX. Previously this $0.50 support level has been working as a resistance as well. Now the same time the price action of Ox has also bounced by the weekly 100 simple moving average support as well. Therefore, at the same time, the ZRX is having a strong support of 100 simple moving average and the key support of $0.50 Stochastic and MACD: After this drastic drop it can be easily observed that on the weekly time frame chart, the stochastic oscillator has entered the oversold zone, which is indicating that the ZRX is quite oversold now. If we take a look at the moving average convergence divergence (MACD) indicator then it can be also noticed, that it has started turning bullish, previously it was very strong bearish. Falling wedge and RSI: On the daily time frame chart, the priceline of Ox was moving in a falling wedge pattern. This is considered to be a bullish reversal pattern and if we watch the movement of the candlesticks within this falling wedge with the combination of RSI oscillator, then it can be observed that whenever the price line is reaching the support of falling wedge and RSI is visiting the oversold zone, the candlesticks are moving towards the upside and making attempts for the breakout. Finally, the price action reached the support while the RSI was entered the oversold zone. The price action of ZRX started moving towards the upside with the RSI and broke out the resistance of the falling wedge pattern. At the moment it is trying to break out the 50 simple moving average on the daily time frame. Big bullish Butterfly move: On the 4-day chart, the price action of the ZRX has completed the bullish Butterfly pattern. There is also 100 simple moving average support in the buying zone and the 200 SMA below this zone. The buying and sell targets as per the Fibonacci sequence of the Butterfly pattern should be: Buy between: $0.95 to $0.5555 Sell between: $1.26 to $2.00 The maximum extent of potential reversal zone to $0.5555 can be used as stop loss or to minimize the risk factor the 100 SMA can be used for this purpose. As per the above targets, this trade has a huge profit possibility of 260%, and the high loss possibility upto 42% but I would suggest using 100 SMA as stop loss to minimize the loss.
Long
by moon333
1
Butterfly patternHow to trade when you see the Butterfly harmonic pattern? Before trading the butterfly harmonic pattern, confirm from the following checklist that the pattern is real. It should have the following vital elements: AB= an ideal target of 78.6 percent of XA leg BC= minimum 38.2 percent and maximum 88.6 percent Fibonacci retracement of AB leg CD= Is a target between 1.618 to 2.618 percent Fibonacci extension of AB leg between 1.272 to 1.618 of XA leg Entry point Determine the place where the pattern will complete at point D – this will be at the 127 percent extension of the X-A leg. Stop-loss Put a stop-loss just below the 161.8 percent Fibonacci extension of the X-A leg. Take profit target The location for placing a take-profit target with this pattern is very subjective and depends on your trading goals as well as the conditions of the market. To have an aggressive profit target, put it at point A of the pattern. For a more conservative profit target, put it at point B. Trading a bearish butterfly harmonic pattern Place the sell order at point D (a 127 percent extension of the XA leg). Position the stop-loss right above an extension of 161.8 percent of the XA leg. And place the profit target at A for an aggressive move at B for a defensive move. Trading a bullish butterfly harmonic pattern Determine the end of the pattern at point D, which is an extension of 127 percent of the XA leg. You need to put a buy order at this point. Now, below a Fibonacci extension of 161.8 percent of the XA leg, a stop-loss can be placed. Placing a profit target depends on both market conditions and your trading goals.
FTSEMYX:FBMKLCIEducation
by manjoiboyz
Watchlist SerbadkSerba Dinamik Holdings is expecting to appoint new auditor by the end of the month, as its former external auditor KPMG PLT resigned last month after the oil & gas engineering firm filed a lawsuit against the latter. It has submitted a request of proposal for provision of external audit to international audit firms on June 27. It had also requested a meeting with the Companies Commission of Malaysia for the appointment of external auditor. (The Edge) 1. Weekly TF show major downtrend (yellow line) 2. At hourly TF found Butterfly pattern and point B near to 78.6% 3. My Idea if breakout from point B is my EP and CL at point A 4. Using Fibonacci retracement point X-A to get point D at 127% TP1 and 161.8% TP2t. 5. I use MA50 (Blue line) as S&R too. #smtm #TAYOR MYX:SERBADK
S
by manjoiboyz
Bitcoin forming a bullish armonic butterfly!!!Hi guys, as you look. I change the background for white and the candlestick green = bullish and red = bearish to analyze up and becoming my technical analsyis simple, classic and modern to be understood. I see and measure using the Fibonacci for armonic, we see a bulliish butterfly. So, and also, we are in the demand zone that we could to buy Bitcoin and make trading. And also, we see in H1 a little formation of simetric triangle flag, it's bullish reversal in short time period. But analyzing in H4 timeframe, I have a perspective that Bitcoin could to be make to up movement, but remember, we are in the consolidation and in sometimes it's very difficult to predict where Bitcoin go. I put a buy order limit at $33,200 USD and my SL will be $31,900 USD and my target at $36,500 USD. s3.tradingview.com And looking in Daily timeframe, we are into this panoramic, a consolidation since end of MAY 2021
COINBASE:BTCUSDLong
by harisonhbn9718
GBP/AUD decrease of priceHi every one BRITISH POUND / AUSTRALIAN DOLLAR GBP/AUD has formed a butterfly pattern which has been completed recently so now the price must do a correction.the correction can be up to the 0.618 line of Fibonacci retracment. After that the bullish trend can continue Traders, if you liked this idea or have your opinion on it, write in the comments, We will be glad. Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!! Thank you for seeing idea . Have a nice day and Good luck.
Short
by CobraVanguard
13
BTCUSD/1DFirst of all I think price will drop to B (78% of XA) due to bearish rectangle pattern then will rise to C (61.8% AB) and then will drop more to D and finally it's going to complete our Bullish Butterfly pattern and AB=CD. Previously price touched 61.8% of XA but I think we're going to see 22704 ( 78% of XA ) due to I think this is a Bearish AB=CD pattern. You can take buy limit on B and sell limit on C as well as buy limit on D ( above of D we have strong support zone and It's so possible to see that candle's shadow will kiss our D and price will close on support line) for amazing long term position. We will see about that!
Short
by SadeQ_Qiassi
5
Progressive (PGR)... Time for some Insurance to kick in ??Progressive (PGR), the third-biggest auto insurer in the US. Progressive has been growing its premiums at mid-teens with combined ratios below 91% over the last several years. (from Seeking Alpha) Harmonically we are at an interesting juncture where there appears to be a confluence of two Bullish Harmonic Patterns. We are also at a .618 of the recent range from Feb. 2021 Specifically an Entry point, targets and a recommended stop are marked. The risk reward on this isn't great. I'd like to see it get a head of upward steam. You have to like the overall market in general and FLO's advertising influence in particular. As always do your own due diligence. S.
NYSE:PGRLong
by Steve666