Eth Swing Trade

A butterfly pattern has formed, all fib requirements have been met, entry
levels, red box have been hit. It's crazy how price moves to these levels.
Take profit zones are TP1 & TP2. ETH/BTC has hit resistance and closed back
below from my previous idea. Let's see what happens

Comment:

Spotted this idea late, awaiting some kinda formation around the initial rejection area to enter.

Comment:

Price returned for a second touch of the D point in an attempt to trap unexpected buyers. Didn't get my fills in the zone due to taking a conservative approach
Entry: $241.50
SL: $252.00
TP above

Trade closed manually:

While the requirements for this pattern were met, one must realize when a trade has the potential to be invalidated and flip bias as quickly as possible. Managing a trade once executed is an important aspect. Price bounced from a low of $229.50, reclaiming previous support and consolidating on the 1H chart, price then broke the local high at $239.95 and at th is moment I cut the trade for a small profit. At the time of righting price is currently $250.00
On going risk management is key