Butterflies and Pitchforks

CADJPY providing us with a super clean (max) butterfly and a beautiful C-D pitchfork to accompany.

Median line was tapped almost immediately! Remember, 80% chance of this happening!
So, I'm hesitant to go short - right away.

However, the pitchfork should give at least one of two super easy plays!!

Watch for price action to bounce around inside the channel!

Trade geschlossen: Stop wurde erreicht:

Boo!!! Turned on me almost immediately. Will be doing analysis on this and will report back with anything interesting I find out.

Kommentar:

Note that -after- leaving the top of the pitchfork, the trend idea really went to shit. Be very weary staying in a position if it's leaving the opposite side of your pitchfork.