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Thread: Butterfly pattern failure setups (Failed Butterfly pattern)

  1. #1
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    Butterfly pattern failure setups (Failed Butterfly pattern)

    In this post we are going to present failed Butterfly pattern cases.

    For more info about Butterfly pattern and the confirmation methods see -> Butterfly pattern - table of content

  2. #2
    Wizard
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    Attached failed butterfly pattern example. See how strongly price moved from the D point. Harmonic trading without knowing where to accept StopLoss can be very risky -> Butterfly pattern failure setups (Failed Butterfly pattern)-butterfly-pattern-failure-2012-10-23_1645.png
    Samtastico likes this.

  3. #3
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    The c leg is weak retracement and price tanked when it broke support. What did the bigger picture look like ?

  4. #4
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    What did the bigger picture looked like (that was a very relevant question)? What the other confirmation methods showed before / at the time of failure?
    Any conclusion?

  5. #5
    Wizard
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    this is very common scenario how the butterfly pattern fails -> Butterfly pattern failure setups (Failed Butterfly pattern)-how-butterfly-pattern-fails-2014-03-29_0040.png
    1 extra strong swing up to take SLs. Mutlitimeframe analysis and maket timeing techniques help to minimize the loses in such buttefly scenarios.
    Harmonics Tube - daily trading setups based on harmonic patterns
    Forex Harmonic Trading - Harmonic trading practical tips, tricks and hints
    AMPmonitor - harmonic and price patterns recognition Scanner that I use
    TradingArsenal Quiz project - best edu material regarding the Harmonic Patterns Trading

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