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Butterfly

USDMYR - Exchange RateIf you are earning Malaysia Ringgit(MYR) and your business requires you to use USD. It might be a good opportunity for you to change some of your MYR to USD. 4.139 is quite a good rate and I certainly won't take the risk if I have huge purchases that are due in the coming months. It is very obvious the US government has some plan in strengthening the USD. There are 2 major headlines you should be aware of. 1. US Secretary-General Janet Yellen said the debt limit is hurting the US. 2. Recent G20 Summit, President Joe Biden is going to push forth a minimum cooperate tax bill that will affect tech giants and corporate that set up manufacturing factories overseas. If you are patient you can wait for 4.0693 to stock up USD. But for it to happen, the market has to break and close below 4.139 on the Weekly Chart.
Short
by RaynLim
GBPJPY - Bearish BatIf you have engaged after this candle closed. It is a great call. And this is why you should have engaged in the trade. 1. It has reached the completion price of the Bullish Butterfly Pattern(cyan). 2. Bat Pattern consolidation at D, but fail to break and close above Point X of the Bat Pattern and that is a good sign. It attracts structure traders to hop in. 3. Long shadows appears, showing a strong rejection of the Bearish Bat Pattern. 4. RSI Divergence is a good sign of GBPJPY weakening.
Short
by RaynLim
Butterfly@1.272XA The Incredible and the amusing Bearish Butterfly@1.272XA it's being created by the price perfectly. Here is what I believe about this edge, the US30 has being in a big uptrend and that can be possibly the reverse of the trend or just a retracement and can create a big impulse so the price reach higher highs never thought by the human being, but the Harmonic Pattern Butterfly that can really provide to us a great opportunity to make some pips, that being said, let's go to the rules. Rules: 1. Harmonic Patterns Completion " Bearish Butterfly@1.127XA " - 70% close to completion; 2. PRZ Hit - Waiting; 3. PRZ Test - Waiting; 4. Terminal Bar - Waiting; 5. Type-1 Reaction - Waiting; 6. Type-2 Reversal - Waiting; 7. Candlestick Reversal Sign - Waiting; 8. Candlestick Confirmation Sign -Waiting; 9. RSI Reversal Sign - Waiting; 10. RSI Confirmation Sign -Waiting; 11. Risk Management - Applied; 12. Risk / Reward - 1/3. " The Lord confides in those who fear him, he makes his covenant know to them. My eyes are ever on the Lord, for only he will release my feet from the snare". Psalms 25 : 14-15 NIV
UShort
by JonyFxHunter
Potential Butterfly/Crab for PRZ We have a butterfly thats almost complete and a potential crab too if price doesn't respect the butterfly on the HTF (This could indicate a potential PRZ) If we get reversal signals at either of these levels or in-between then we can be safe to take this short. But for now momentum is still bullish on the LTF, we have BOS to the upside and a nice momentum trendline (Which is close to the D point of the butterfly, so im waiting for a break in momentum and BOS before potentially shorting this. Let me know your thoughts?
U
by benalistarfx