Reason to Entry:
-Valid butterfly pattern (if C point doesn't not exceed A point)
-Fibonacci confluence (2) at 161.8 extension
-in line with rate hike event (possibility of strong USD)
-wait for RSI confirmation
-wait for candle formation ( double top or doji )
-if CD leg are too steep, it's a warning sign price will go lower than entry level
-You can entry with butterfly pattern setup or wait for price touching trendline and make higher high higher close candle
Entry:
-127.2 of butterfly
-161.8 of butterfly
-Retest of trendline
Exit:
-61.8 retracement of butterfly
-price may go higher exceed the A point of butterfly as trend continuation
Void if:
-CD leg of butterfly too steep
-C exceed A point
-Valid butterfly pattern (if C point doesn't not exceed A point)
-Fibonacci confluence (2) at 161.8 extension
-in line with rate hike event (possibility of strong USD)
-wait for RSI confirmation
-wait for candle formation ( double top or doji )
-if CD leg are too steep, it's a warning sign price will go lower than entry level
-You can entry with butterfly pattern setup or wait for price touching trendline and make higher high higher close candle
Entry:
-127.2 of butterfly
-161.8 of butterfly
-Retest of trendline
Exit:
-61.8 retracement of butterfly
-price may go higher exceed the A point of butterfly as trend continuation
Void if:
-CD leg of butterfly too steep
-C exceed A point
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.
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.