Here on the GBPUSD im getting closer to my short orders being filled and the butterfly pattern completing. stops for me go just above the 1.414 ext and target is the .382 retrace of the A to D-leg.
Butterfly rules:
1= Atleast a .786 retrace of the X to A- leg but cannot break X.
2= Atleast a .382 retrace of the A to B-leg and can go past .382 just cannot break A.
3=Pattern completion for the butterfly pattern is a .127 ext of the A to B-leg. Thats were i place my orders.
If you have any questions about this pattern or if you would like me to post more educational content about advanced patterns just leave me a comment in the comment section and i will help you with it any way that i can. Thanks for checking out my idea and Good luck on all your trades!!
Butterfly rules:
1= Atleast a .786 retrace of the X to A- leg but cannot break X.
2= Atleast a .382 retrace of the A to B-leg and can go past .382 just cannot break A.
3=Pattern completion for the butterfly pattern is a .127 ext of the A to B-leg. Thats were i place my orders.
If you have any questions about this pattern or if you would like me to post more educational content about advanced patterns just leave me a comment in the comment section and i will help you with it any way that i can. Thanks for checking out my idea and Good luck on all your trades!!