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Thread: Butterfly pattern examples on Forex market

  1. #1
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    Butterfly pattern examples on Forex market

    In this thread you can find butterfly pattern examples from Forex market, see below.

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

  2. #2
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    USDPLN M30 bullish butterfly
    Butterfly pattern examples on Forex market-2012-02-10_1846.png

  3. #3
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    does Butterfly shouldn't exceed level of 1.618XA? you have entered below this lvl, why?

    i would enter on 1.27XA with stop 1.618XA and i would be stopped but have winner there..

  4. #4
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    ok, have made lame mistake in measuring, its butterfly and it is not exceeding 1.618XA, but still very nice late entry, are you entering by pending order or by hand? wasnt you affraid that price would not reach so low level?

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    its butterfly and it is not exceeding 1.618XA, but still very nice late entry, are you entering by pending order or by hand?
    by hand. Entry is really very good, almost the bottom (a bit higher due to the spread)

    wasnt you affraid that price would not reach so low level?
    That is beginner question/mistake, drapi. Never enter too early. Even if you miss one trade there are lots of harmonic opportunities every day.
    Be patient, choose the best ones. Longer you wait with your entry the better your R:R.

  6. #6
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    That is beginner question/mistake, drapi. Never enter too early. Even if you miss one trade there are lots of harmonic opportunities every day.
    but dont you miss to many good patterns this way? From my observations not to many butterflys expand to 1.618 as in your case, usually they bounce from 1.27XA and 1.27AB

    btw. where was your SL?

  7. #7
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    Of course i miss some good harmonics trades this way, and of course i am not always so lucky to enter so well.
    I have some proprietary techniques for entry and i enter always from M1 to best tune the entry. I am the wizard of entries, not so good with exits thou. Still learning mate, always learning.

  8. #8
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    Here you can see my entry and Friday's exit for this USDPLN bullish butterfly trade, also the SL level. Risking ca 240 pips, was lucky to take ca 700 pips.
    Butterfly pattern examples on Forex market-usdpln_m30_bullish_butterfly_exit_2012-02-12_2019.png

  9. #9
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    There is actually good lesson from this chart above regarding our discussion here. With my entry and exit on TP2 (if reached) it would be 870/240=3.6 reward to risk trade.
    But if we would wait a bit longer and/or enter a bit better, the reward to risk ratio improves fast and becomes much better. AMP indicator shows that (ignoring the spread) maximum possible till TP2 level was reward to risk equal 5:0.

  10. #10
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    maybe the anwser can be splitting poistion in parts, enter half of position on 1.27XA and another half later near 1.618XA, this way risk is lower then entering whole position on 1.27XA and we still catch good trades which bounce quicker, RR also is good because we decrease SL and increase TP by averaging, what you think about 2 entries strategy?
    Samtastico likes this.

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