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Butterfly

CADJPY - Bullish ButterflyWOW! CADJPY is our trade of the month. First, we engaged the trade on a Bullish Crab Pattern and before the Crab Pattern has even moved towards the direction that I was trading. I'd also spotted the Head and Shoulder opportunity to buy. With Trade management, that trade easily brought us 280pips(approx. 2,800USD/lot traded) of pure profit If you trade Type2 Pattern, on the 4hourly chart, we have a Bat Pattern to complete at 90.12. Well, if you are like me, when there's an immediate pattern and you prefer Type1 Pattern over Type2 Pattern, the Bullish Butterfly Pattern completed at 89.63 on the 1hourly Pattern.
Long
by RaynLim
USDJPY-Weekly Market Analysis-Feb22,Wk4If you have read the previous post(the article is within the link to the related idea within TradingView), the Bearish Butterfly has already brought you 167pips(approx. 1,670USD/lot traded) of profit. Should the market continue to fall and reach 114.58, it will be a Bullish Gartley Pattern for trend traders to hop on the trade for a buying opportunity. However, if the market reverses from this point, you should be able to catch the Bearish Bat Pattern on the 1hourly chart.
Long
by RaynLim
ES daily 02/17: Bulls at last standFor bulls, good news is the possibility of 0.50% rate increase in March has significantly reduced last few days. And the bad news are all from Ukraine issue, which I think is a total nonsense, but obviously most market participants take it very seriously. Every a bit of even slightly possible Russian aggression will instantly drop the market. But assuming it cools down in the coming days, then there are lots of fuel to pump the market to 4640~4680 and even 4700+ next week. From wave structure, we already have double top around 4585, and then double top at 4480~4485 range, a sustained break below Monday low of 4354 would be extremely bearish to me. Although we still have theoretical support of 4300, imo, if we lose 4350, we will see Jan low range retested, so bulls are now at their last stand. With today's low, it finished a butterfly pattern, so maybe we will go directly from here, but whether there will be more bad news overnight/tomorrow to break it, only God knows. For now, I still have my primary route as going up to 4640~4680 next, but I will always keep hedge on, as market already proved how volatile it can be, especially when market is basically controlled by Ukraine news...
CME_MINI:ES1!Long
by duckwade
6
USDJPY-Weekly Market Analysis-Feb22,Wk3If you had not read my post at the bottom, most likely you had missed the Bearish Butterfly Pattern that already gave 69pips of profit on the first target and just visually a bit shy away from its second target that has the potential to bring another 114pips of profit. It is important that in trading, we never, ever, ever chase the trade. However, we could wait for the market to retest back to the consolidation zone in hope of forming a Bearish Bat Pattern or a Bearish Gartley Pattern for us to hop right into the trade or to have an add on of our trade. There are three things that a trader needs to have. First He or She has to be able to read the trend, secondly, the ability to plan the trade execution and lastly to have the patience to wait for the setup to complete.
Short
by RaynLim