Get started

Butterlfy

(Weekly) 1dbl bottom 2shoulders 1head 2necks & 1butterflyTVC:SX5E The amazing price action... -Reversal double bottom; -Major bearish trendline broken, the double bottom "neck" broken, validating the double bottom; -Found resistance at Bearish Butterfly territory; -Two targets for the Butterfly, the second @2933$ (618% retracement) will forge the 2618 bullish setup with initial and default targets around 3600$, the 127% extension, eventual ab=cd as 2nd target, a 3th and 4th targets above the 161% extension and 224% extension... -Ascending structure (at yellow) also with a possibility to "support" the price inside it, forging an eventual 3drives pattern in case of a failed Butterfly... directly testing the highs. -Bearish RSI and MACD Divergence, but looking left/back on previous price action history on similar divergences, the price just forged small degree corrective structures, resuming major trend later... That said... Safe Trades;
TVC:SX5EShort
by Andre_Cardoso
AUDNZD Pending Butterfly Pattern at Key Support LevelPrice has been moving for a long period of time above a slide parallel of a downsloping median line, which has acted as support several tims previously. Looking now at the 240min chart, we see that a bullish butterfly pattern is about to complete above the support parallel. Sl and tp as shown at the chart. If price reaches the first target we move sl at breakeven at 2nd position. I wish everyone a Happy 2017..! All the best to you and the ones you love and love you..!
Long
by Fxprotrader
4
The Butterfly Pattern - Rules of EngagementThe Butterfly Pattern Created by Bryce Gilmore, the perfect Butterfly pattern - here are the rules of engagement for this pattern: Rule 1: The Butterfly Pattern begins with a market move/impulse leg that establishes our X and A points. Once X and A points have been identified, we then look at rule 2... Rule 2: The Market forms B completion point by fulfilling at Least 78.6% retracement of the XA leg. AB move remains valid as long there is at least a 78.6% retracement of XA and does NOT close above the 88.6% Rule 3: If rule 1 and 2 has been met, then the market forms the C completion point by fulfilling at least a 38.2% retracement of the AB leg. Point C remains valid as long as there is at least a 38.2% retracement of AB and there is not a candle close at or beyond the 88.6% retracement of AB. Rule 4: If rule 1,2 and 3 have been met, then the market forms the D completion (this will be the entry point) by fulfilling a 127.2% extension of XA. In a valid CD move, the 127% retracement of XA shows ratio confluence with the 161.8% of AB. The D completion point must extend past X Trade Rules/Trade Management: Entry at D, stop loss 141.3% extension of XA and target 61.8% retracement of AD GREAT RISK REWARD RATIO
Long
by BambooGrowth