Bearish Butterfly pattern
This is a lovely example of a bearish butterfly pattern, this pattern was identified when the first candle came down at the PRZ so i called it letter than usuall but better late than never
from this trade you would have entered on the first candle the reversed at the prz and would have entered at the completion of this candle as you can see the targets are as shown my person trade management rules are open 1 full position risking 3 percent of the account exit half the position at the target 1 level and then exit the remainder at target 2
If you can draw a trend line down from the price moving down then use this also as an exit stratagie and if the trend line brakes exit the position this is if the target 1 or 2 is not reached
from this trade you would have entered on the first candle the reversed at the prz and would have entered at the completion of this candle as you can see the targets are as shown my person trade management rules are open 1 full position risking 3 percent of the account exit half the position at the target 1 level and then exit the remainder at target 2
If you can draw a trend line down from the price moving down then use this also as an exit stratagie and if the trend line brakes exit the position this is if the target 1 or 2 is not reached
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