EURUSD: Butterfly inside Wedge Pattern Setup
Reason to entry:
-Butterfly Pattern
-1618 Butterfly's completion near wedge support trendline
-strong structures at 1618 butterfly completion
-RSI oversold and divergence
-Harmonic move
-Confluence (2) at 1618 completion
-inverted flag pattern as the sign of momentum change.
Entry:
-1272 Butterfly completion
-1618 Butterfly completion or..
-at wedge support
Exit:
-382 butterfly retracement
-618 butterfly retracement
-wedge resistant
Void if:
-failed pattern and price already breakout the wedge's support.
-if price breakout the wedge's support, immediately reverse as continuation
Remember that market always right!
Manage your trade well!
-Butterfly Pattern
-1618 Butterfly's completion near wedge support trendline
-strong structures at 1618 butterfly completion
-RSI oversold and divergence
-Harmonic move
-Confluence (2) at 1618 completion
-inverted flag pattern as the sign of momentum change.
Entry:
-1272 Butterfly completion
-1618 Butterfly completion or..
-at wedge support
Exit:
-382 butterfly retracement
-618 butterfly retracement
-wedge resistant
Void if:
-failed pattern and price already breakout the wedge's support.
-if price breakout the wedge's support, immediately reverse as continuation
Remember that market always right!
Manage your trade well!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.