Possible harmonic setup on the 1HR - Butterfly
Possible butterfly pattern emerging. Price respected 0.886 of XA shown by a rejection. Price tried to test it one more time and failed, falling to a .50 retrace of the AB leg. Although a stronger number ie .618 would've been preferred, .50 may be shown to be reversal point if price action develops. What do you guys think?
Just started using harmonics as a trading indicator, constructive criticism greatly appreciated.
Just started using harmonics as a trading indicator, constructive criticism greatly appreciated.
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