GBPJPY | Butterfly pattern in the making?

25 Kas 2019

GBPJPY | Butterfly pattern in the making? (short-term bearish)

- Point-B validated (?)
- Point-C must reach the 38. 2% retracement of AB leg but not exceed 88.6%
+ Ascending channel pattern indicates uptrend until it breaks the support
+ Stop loss is your friend
+ Take profit depends on your risk appetite

Harmonic Butterfly Pattern:
Point-B | 78.6% of XA
Point-C | 38.2% - 88.6% of AB
Point-D | 127.2% of XA
PRZ | 161.8% - 261.8% of BC

Harmonic Gartley invalidated (tradingview.com/chart/GBPJPY/vIHjQ9PW-GBPJPY-Gartley-pattern-in-the-making/)

26 Kas 2019

Not

Harmonic Butterfly pattern invalidated