Potential Butterfly Forming. Awesome Oscillator indicating bullish momentum, There a possibility of this pattern completion. Another one added on the list to wait n watch.
Just curious if this is a proprietary use of the "butterfly" pattern and your success with such
extreme variations ? I ask because the pattern you have outlined is vastly different than the
pattern I've been taught is valid - such as this: harmonictrader.com/price_patternsbfly.htm Thanks for your thoughts and wishing you loads of pips in your pocket in 2015 !!!!!!!
Neel_K
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Yours would a valid "perfect" Butterfly. In above case, I was looking for AB = CD and D to be 1618 of AB.
dojitrader
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To further my curiosity ~~~~~
As your answer implies that a butterfly or any other pattern for that matter
has multiple variations, thus, I was wondering, in your rules, when does a
butterfly no longer qualify as a butterfly.
Any way, in this chart you were looking more for an ab=cd than a butterfly ?
Thanks again and let's load up on pips this year !!!!!
Neel_K
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I'm still learning.. but this would invalidate my rules to qualify for butterfly....B not to exceed A, C not to Exceed B
extreme variations ? I ask because the pattern you have outlined is vastly different than the
pattern I've been taught is valid - such as this: harmonictrader.com/price_patternsbfly.htm
Thanks for your thoughts and wishing you loads of pips in your pocket in 2015 !!!!!!!