U.S. Dollar IndexShort
Bearish Butterfly Harmonic Pattern DXY / Trend Reversal
Trading the bearish Harmonic pattern;
Place the sell order at point D (a 127 percent extension of the XA leg). Position the stop-loss right above an extension of 161.8 percent of the XA leg(personal preference). And place the profit target at A or lower for a more aggresive take-profit since it might indicate a trend reversal.
This depends on the condition of the market.
Place the sell order at point D (a 127 percent extension of the XA leg). Position the stop-loss right above an extension of 161.8 percent of the XA leg(personal preference). And place the profit target at A or lower for a more aggresive take-profit since it might indicate a trend reversal.
This depends on the condition of the market.
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