It is another variation to the Gartley and Bat pattern and it is recommended to read them before reading it. (Attested below Gartley and Bat Pattern)
The main rules of the Bullish and Bearish Butterfly patterns are as follows:
Butterfly Rules:
AB can retrace up to 78.6% of the XA leg
BC can retrace between 38.2% – 88.6% of AB
CD can be an extension of 1.618% – 2.618% of AB
CD can also be an extension of up to 1.272% – 1.618% of XA leg
The point D is known as the PRZ or Potential Reversal Zone
The pattern can be used in all markets and at any time frames with most accuracy.
Purpose: To share quality information within community that may help individual trader to learn more and take inform decisions in order to generate consistent positive results.
Practice the above said chart pattern and share it below with us.
Thanks for the support,
Best Regards,
Neetesh Jain
The main rules of the Bullish and Bearish Butterfly patterns are as follows:
Butterfly Rules:
AB can retrace up to 78.6% of the XA leg
BC can retrace between 38.2% – 88.6% of AB
CD can be an extension of 1.618% – 2.618% of AB
CD can also be an extension of up to 1.272% – 1.618% of XA leg
The point D is known as the PRZ or Potential Reversal Zone
The pattern can be used in all markets and at any time frames with most accuracy.
Purpose: To share quality information within community that may help individual trader to learn more and take inform decisions in order to generate consistent positive results.
Practice the above said chart pattern and share it below with us.
Thanks for the support,
Best Regards,
Neetesh Jain
