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PREMIER AFRICAN MINERALS LIMITED ORD NPV (DI), LLOYDS BANKING GROUP PLC ORD 10P, FRONTERA RESOURCES CORPORATION ORD SHS USD0.00004 (DI), LOCATION SCIENCES GROUP PLC ORD 0.01P, VODAFONE GROUP PLC ORD USD0.20 20/21, POWERHOUSE ENERGY GROUP PLC ORD 0.5P
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BTC/USD, ETH/USD, BCH/USD, XRP/USD, LTC/USD, ETC/USD
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This is a lovely example of a bearish butterfly pattern, this pattern was identified when the first candle came down at the PRZ so i called it letter than usuall but better late than never
from this trade you would have entered on the first candle the reversed at the prz and would have entered at the completion of this candle as you can see the targets are as ...
This is a almost perfect example of a perfect butterfly pattern with further validation from an AB=CD helping to reinforce the validity if this set up, this indicates strong resistance at these levels (blue box's are potential reversal zones) and an reversal signal to the downside i would look to sell this pair and take profits at the 0.382 retracement drawn from ...
On this particular pair i am currently neutral in my bias, however that being said Bitcoin could be on the verge of a reversal the reason for this analysis lies within the harmonic trading approach, the first pattern that has been discovered is the biggest one which is the BAT, but in the harmonic trading approach it requires specific alignments to validate a ...
• B point precise 0.618 retracement.
• C point 0.382–0.886 range.
• XA D point 0.786 retracement.
• B-C projection 1.13, 1.27, 1.41, 1.618.
• AB=CD 1.00.
buy pair and take profint at 0.382 target fib draw from extrame points of the pattern
BAT PATTERN (DICRETIONARY)-allows a little more leeniance with the shape of the pattern
XA D point retracement must have 0.886 in the potential reversal zone
B point retracement can be either 0.382 or 0.50
C point retracement 0.382 to 0.886
B to C projection minimum 1.618 ideally 1.618 or 2.0 but can be 2.24 or 2.618
AB=CD ideally 1.27(most common) but can be ...
potential reversal zone is in the blue box