Furthermore to the weekly bat pattern on the previous idea there is also a potential bearish butterfly pattern forming.
The butterfly posseses a distinctive ~78.6% B point.
utilising a 127% XA measurement for entry and a 161.80% stop loss.
Also displayed on the chart shown is a 224% BC projection close to entry, further providing validity to the pattern providing both measurements are broken in a single bullish candle.
Please see attached pattern, both entries on the butterfly and bat are extremely close together.
The butterfly posseses a distinctive ~78.6% B point.
utilising a 127% XA measurement for entry and a 161.80% stop loss.
Also displayed on the chart shown is a 224% BC projection close to entry, further providing validity to the pattern providing both measurements are broken in a single bullish candle.
Please see attached pattern, both entries on the butterfly and bat are extremely close together.
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Related publications
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.