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Bearish Butterfly

Cypher & Butterfly completing right now!Hey guys, on this pair we are in a downtrend on the 4hr chart. When this happens i start to look for trading opportunities into structure levels that may provide some resistance for a trend continuation trade. As you can see price is now coming back to the previous 4h structure resistance (black line) and right there there are two different harmonic patterns completing. The first is the Cypher pattern (whose D point is precisely at the 0,7200 psychological level). The second one is the Butterfly pattern. You may be asking yourself why this is the first time i publish a Butterfly pattern; because i do not use this pattern as reason for entry. But i like to find additional clues to my trading decision, and that could be considered as one of those. Stops above X, targets at .382 and .618 retracement of AD leg. Let's see what price does. If you want to ask questions or explain your standpoint, feel free to write below. Otherwise, see you in the next chart!
Short
by Roker1
AUDUSD - Bearish Gartley & Butterfly Completed on H1 ChartSlightly late when I spotted this, both patterns have completed and price has started to retrace. PRZ for Gartley in light blue, PRZ for Butterfly (in Purple) RSI is showing bearish divergence. DO NOTE : Looking at CFTC FX Commitments of Traders released on 10 Feb 2017: - AUD long 17K vs 12K long last week. Longs increase by 5K - Australian dollar net longs start to creep up. Not sure if there will be a weekend gap up tomorrow morning. R:R if shorting in PRZ : Gartley : 0.9 (TP1) & 1.7 (TP2) Butterfly : 2.5 (TP1) & 4.3 (TP2) It will be best to wait for price to head back up to PRZ first and observe again before shorting.
Short
by lyl89
2
USDJPY Bearish Butterfly and BatBearish Butterfly and Bat Sell Bat Setup ************ Sell at 117.269 Stop Loss at 117.85 Target 1 Fib (0.382%) 116.509 Target 2 Fib (0.618%) 116.054 If Bat pattern Fails than wait for the butterfly pattern to get in *********************************************************************************** Butterfly Setup ******************** Sell at 119.102 Stop Loss at 119.611 Target 1 Fib (0.382%) 117.619 Target 2 Fib (0.618%) 116.689 Keep in mind the bullish Bat pattern on the 4hr chart do not set your targets bellow point D of that bat as chances are it will revers in that area.
Short
by lbrincat
2
USDCAD Will be a great short opportunity for months.-We have a bearish flag and and a bearish butterfly forming on the daily time frame. -At the D point of the bearish butterfly, we hit the 2.0 fib level, and got an instant retracement, which let to form a shooting star. -On the 15 minute time frame we have an ascending channel that is current forming a bearish pennant. If this pennant breaks to the downside, it should break the ascending channels bottom trend-line, and fall down to 1.328500 and face some resistance. If this resistance is broken, it should head down to the 1.3100 level where it will face more resistance. I am looking forward to this Sunday! Happy trading!
Short
by ForrestForex