With the BC Leg confirmed, let's see if the Bearish Butterfly plays out with upside past $170 resistance levels before reversing hard. This is a re-post with more known and dialed in variable to the BC Leg (smack in the middle of rule @ 53.5%).
Values for CD are at Max and conform to an uptrend parallel channel that is not confirmed (with exception of 2 modest touches at the beginning), yet it lines up with the Bearish Butterfly's Max FIB of the CD leg.
See post below on Cup and Handle , as well as Previous Bearish Butterfly Post for more details, as it has similar upside potential, breakout points or trend lines - (Cup and Handle Still Valid - Bullish).
Likes and Comments always welcomed.
Good luck, Traders! May you find yourself on the profitable side of it.
~Harbachan
Values for CD are at Max and conform to an uptrend parallel channel that is not confirmed (with exception of 2 modest touches at the beginning), yet it lines up with the Bearish Butterfly's Max FIB of the CD leg.
See post below on Cup and Handle , as well as Previous Bearish Butterfly Post for more details, as it has similar upside potential, breakout points or trend lines - (Cup and Handle Still Valid - Bullish).
Likes and Comments always welcomed.
Good luck, Traders! May you find yourself on the profitable side of it.
~Harbachan
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Update: Watching the levels
