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Reply With QuoteAttached 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 ->
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
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 ->
The c leg is weak retracement and price tanked when it broke support. What did the bigger picture look like ?
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?
this is very common scenario how the butterfly pattern fails ->
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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