Mates, here's a butterfly advanced formation.
Butterfly advanced formation differs very much from harmonic butterfly pattern. Mostly in it's B-point identification and trade execution/management rules. With this timeframe and swing identification technique I use the alternative entry at 1,272AB (the original entry is 1,272XA). My entry technique with these setups is limit order entry. Targets are 0.382AD and 0.618AD. I measure the distance towards the first target and use it to calculate my stop level. THis way initially I have a 1 to 1 Rewared to Risk Ratio. I don't have a slightest idea what is the probability of price to move from C-point to D-point that's why I never trade it. But when price comes to my entry I know that I have a high probability of success. Appreciate your likes and comments.
Butterfly advanced formation differs very much from harmonic butterfly pattern. Mostly in it's B-point identification and trade execution/management rules. With this timeframe and swing identification technique I use the alternative entry at 1,272AB (the original entry is 1,272XA). My entry technique with these setups is limit order entry. Targets are 0.382AD and 0.618AD. I measure the distance towards the first target and use it to calculate my stop level. THis way initially I have a 1 to 1 Rewared to Risk Ratio. I don't have a slightest idea what is the probability of price to move from C-point to D-point that's why I never trade it. But when price comes to my entry I know that I have a high probability of success. Appreciate your likes and comments.
Ordre annulé:
the pattern was invalidated.