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Butterfly

11/07/2024 - XAUUSD - Bearish Butterfly PatternAs of July 11th, 2024, XAU/USD (Gold) is forming a bearish butterfly pattern, indicating a potential downward movement. Here’s the trade plan: Trade Details: - Entry: Enter with SL above PRZ or on the breakout of the last HL - Stop Loss: Above PRZ Reason for Trade: The bearish butterfly pattern suggests a potential downward movement. Traders can enter with a stop loss above the Potential Reversal Zone (PRZ) or wait for a breakout of the last higher low (HL) to confirm the bearish trend. Traders should monitor the price action closely and adjust their positions accordingly to optimize potential profits and manage risks effectively.
OANDA:XAUUSDShort
by Unknown_Trader007
1
Netflix Butterfly 🦋 is Trying to Fly to Next Golden Level.the detail is shown in the above Chart. I made this Idea based on Harmonic pattern using Fibonacci tools. We can expect that Netflix Rise up more to reach the golden level and at this point ,a bearish butterfly pattern will start. To trade a bearish Butterfly pattern, place your sell order at point D (the 127% Fibonacci extension of the X-A leg), position your stop loss just above the 161.8% extension of the X-A leg and place your profit target at either point A (aggressive) or point B (conservative).
NASDAQ:NFLX
by SEYED98
2
Update plan gold nonfarm and in JulyIt is forecasted that there will soon be a bullish phase when all signals break for the uptrend. In my opinion, that is a bullish trap. Please stick to the sell-off scenarios according to the price arrow I draw, every scenario has a stop loss level, don't expect too much from forcing and letting loose stop loss orders in this non-agricultural news for orders. buy. According to my experience, today or before news of gold release, there will be a strong sale, good luck to traders. Please see updates for other ideas as well.
TVC:GOLDShort
by EricGoldHunter
lower high retest near recent lower high. 1,780Waiting for price to rise to point labelled D , and lower high signal to confirm a continuation of a bearish trend. Also waiting for price to complete a three to four days of rise, from Friday's low and therefore waiting for a bearish signal below and above 1.78055 and with possible stop hunt since its NFP week and anything however above 1.78200 and trend bullish or bullish spike candle could be a sign that the my expected analysis failed
by KhoraCapital
USD/CHF - Bearish Reversal Anticipated from Key Resistance LevelThe USD/CHF currency pair currently exhibits a Bearish Butterfly Harmonic Pattern. This pattern is significant as it is forming at a key resistance area, indicating a potential reversal in price action. The pattern's completion point, identified as Point D, aligns with a 61.8% Fibonacci retracement level, further reinforcing the likelihood of a bearish movement. Potential Reversal Zone (PRZ): Point D, also known as the Potential Reversal Zone (PRZ), is the critical area where we anticipate a reversal from the current uptrend. At this point, the confluence of the Bearish Butterfly Harmonic Pattern and the 61.8% Fibonacci level strengthens the probability of a significant bearish reversal. Entry, Stop Loss, and Take Profit Levels: To capitalize on the anticipated bearish movement, we recommend entering a short position at 0.90055. To manage risk effectively, a stop loss should be placed at 0.90175, slightly above the PRZ to allow for minor price fluctuations without triggering an early exit. Take Profit Targets: We have identified three take profit levels to gradually secure profits as the price moves in the anticipated bearish direction: TP-1: 0.89935 TP-2: 0.89815 TP-3: 0.89695 These take-profit levels are strategically placed to capture gains at significant price points, providing a structured exit strategy to maximize profitability while managing risk. Conclusion: The formation of a Bearish Butterfly Harmonic Pattern at a key resistance area, coupled with the alignment of the 61.8% Fibonacci retracement level, suggests a high probability of a bearish reversal in the USD/CHF currency pair. By entering at 0.90055 with a stop loss at 0.90175 and targeting the specified take-profit levels, traders can effectively benefit from the expected downward movement. Disclaimer: This technical analysis report is provided for informational purposes only and should not be construed as financial advice. Traders are encouraged to conduct their own research and consider their risk tolerance before entering any trades.
Short
by trading_jupiter
📈Fetch AI can go high to $20 level / Alt Season rally📉BINANCE:FETUSDT COINBASE:FETUSD Hello traders. Fetch AI is my Second suggestion for the altcoin market. As you can see, the price has broken its long-term pitch-fork structure. As long as the price rally is ongoing outside the pitchfork, the $6.4 and $9 targets are active.🎯 Considering the previous price rally, there is a possibility of a price correction to the middle levels of the pitchfork (dynamic and then static supports).🧨 The best strategy for altcoins is to allocate a certain percentage of assets (for example, 10% of the total portfolio) to buy potential altcoins.🎲 In the following week, I will introduce and complete the list of my suggested altcoins. I plan to monitor these altcoins weekly.
Long
by CrazyS
3
EURUSD: Bearish Butterfly Pattern Signals ReversalThe EURUSD pair is currently forming a Bearish Butterfly Harmonic Pattern (XABCD), a classic reversal structure frequently observed in technical analysis. The Butterfly Pattern suggests that the current bullish momentum may soon exhaust, giving way to a potential bearish trend. Potential Reversal Zone (PRZ): Point D, at the completion of the Butterfly pattern, is identified as a Potential Reversal Zone (PRZ). This zone is critically important for several reasons: Key Resistance Area: The PRZ aligns with a significant resistance level, historically indicating strong selling pressure. 4-Hour Trend Line: The zone coincides with a downward sloping trend line on the 4-hour chart, reinforcing the bearish outlook. 61.8% Fibonacci Retracement: The PRZ is also at the 61.8% Fibonacci retracement level of the preceding move, adding another layer of confluence to our bearish bias. Entry and Risk Management: Given the confluence of technical indicators at the PRZ, we anticipate a trend reversal to bearish from Point D. Our proposed trading strategy is as follows: Entry Point: 1.08865 Stop Loss: 1.09030 The stop loss is strategically placed above the PRZ to protect against potential false breakouts and limit downside risk. Take Profit Levels: To effectively manage our positions and lock in profits, we have set multiple take profit levels: TP-1: 1.08700 TP-2: 1.08535 TP-3: 1.08370 These targets are derived from previous support levels and the harmonic pattern projections. Conclusion: The confluence of the Bearish Butterfly pattern, key resistance, trend line, and Fibonacci level significantly strengthens the bearish case for EURUSD at Point D. By entering the market at 1.08865 with a stop loss at 1.09030, and targeting the specified take profit levels, traders can capitalize on the anticipated bearish reversal while maintaining disciplined risk management.
Short
by trading_jupiter
Bearish Reversal Insight AUDCAD Technical Analysis & Trade SetupThe AUDCAD currency pair is currently forming a Bearish Butterfly Harmonic Pattern (XABCD), indicating a potential bearish reversal. Point D, the Potential Reversal Zone (PRZ), is aligned with a key resistance area and intersects a daily trend line, providing a strong confluence for a bearish bias. Potential Reversal Zone (PRZ) and Key Resistance: Point D is identified as a critical area where the price is likely to reverse. This zone is reinforced by a key resistance level, adding validity to the bearish outlook. The intersection with the daily trend line further strengthens the likelihood of a trend reversal from this point. Entry Strategy: To capitalize on the expected trend reversal, the entry should be made at the breakout of the support level near 0.90450. This level is crucial as a confirmed breakout here would signal the start of a bearish trend. Stop Loss Placement: A stop loss should be placed above the resistance level at 0.91400. This placement ensures protection against potential false breakouts and market volatility. Take Profit Targets: The take profit targets for this trade are as follows: TP-1: 0.89500 TP-2: 0.88550 TP-3: 0.87600 These targets are strategically set at significant support levels to maximize gains while managing risk effectively. Conclusion: The formation of the Bearish Butterfly Harmonic Pattern, combined with the confluence of the PRZ, key resistance area, and daily trend line, presents a compelling bearish setup for AUDCAD. By entering at the support breakout, setting a prudent stop loss, and targeting key support levels, this trade offers a favorable risk-reward profile for traders.
Short
by trading_jupiter
27
XAUUSD Analysis and update After analyzing last night's XAUUSD chart, we saw that closing a daily candle above the neckline of the double bottom pattern at 2350 indicates a high probability of gold reaching the target of 2373. This also matches the first target of the harmonic pattern and respects the levels outlined in the previous analysis. Currently, we see that gold is trying to break through the retracement zone, which starts at 2374.03 and ends at 2395.45, as mentioned at the beginning of the week. Right now, a bearish harmonic butterfly pattern has formed on the hourly timeframe, suggesting a potential correction towards the targets indicated on the chart. This pattern will be invalidated if the price reaches 2380.5 or if an hourly candle closes above 2378.6. To continue the upward movement, it is important to close a daily candle above the level of 2364, which is the highest price of last week's candle. Key levels of interest have been marked on the chart. These levels are derived from my personal strategy, which has proven effective based on my trading experience. Disclaimer: This is my personal view on XAUUSD and not a recommendation to buy or sell.
PEPPERSTONE:XAUUSD
by XAUStorm
2
EUR/NZD-Bullish Opportunity with Harmonic Pattern & RSI Div.This report provides a detailed technical analysis of the EUR/NZD currency pair, emphasizing a Bullish Butterfly Harmonic Pattern forming at a key support area. The analysis is supported by a Bullish RSI Divergence observed on the 4-hour chart, reinforcing our bullish bias. Bullish Butterfly Harmonic Pattern: The EUR/NZD is currently forming a Bullish Butterfly Harmonic Pattern, a reversal pattern signaling a potential bullish trend. This pattern is characterized by precise Fibonacci retracement and extension levels, indicating a potential upward price movement from the current support area. Key Support Area: The pattern is emerging at a significant support zone around 1.76671, which has historically provided strong buying interest. This level is crucial for our entry point, providing a favorable risk-to-reward ratio. Indicator Analysis RSI Divergence: The Relative Strength Index (RSI) on the 4-hour chart shows a bullish divergence, where the price makes lower lows while the RSI makes higher lows. This divergence suggests a weakening bearish momentum and potential bullish reversal. Trade Setup Entry Point: Entry: 1.76671 Stop Loss: Stop Loss: 1.76242 Take Profit Targets: TP-1: 1.77100 TP-2: 1.77529 TP-3: 1.77958 Risk Management: Setting a stop loss at 1.76242 ensures minimal risk exposure if the market moves against our position. The take profit targets are strategically placed to capitalize on the anticipated bullish movement, with each target offering progressively higher potential returns. Conclusion: Based on the formation of the Bullish Butterfly Harmonic Pattern and the Bullish RSI Divergence on the 4-hour chart, EUR/NZD exhibits a strong bullish bias. Traders are advised to enter the market at 1.76671, with a stop loss at 1.76242. The take profit targets of 1.77100, 1.77529, and 1.77958 provide clear exit points to maximize profits. By adhering to this trade setup and risk management strategy, traders can effectively navigate the EUR/NZD market, leveraging technical indicators and patterns to inform their trading decisions.
Long
by trading_jupiter
4
EUR/GBP: Bullish Butterfly Pattern with ConfluenceEUR/GBP is currently exhibiting a bullish technical setup based on a harmonic pattern and RSI divergence, suggesting a potential upside move. Harmonic Pattern Setup: A bullish butterfly pattern is forming on the EUR/GBP chart. Point D of the pattern, also known as the Potential Reversal Zone (PRZ), is nearing a key support area. This confluence strengthens the bullish case for a reversal at this level. Bullish RSI Divergence: Bullish RSI divergence is observed on both the 1-hour and 4-hour timeframes. This indicates that while price may be making lower lows, the RSI indicator is not confirming the downtrend, suggesting a potential weakening of bearish momentum. Trade Recommendation: Entry: Long EUR/GBP at 0.85450 Stop Loss: 0.85240 (placed below the key support area and Point D of the butterfly pattern) Take Profit Levels: TP-1: 0.85820 (targets the 1.618 Fibonacci extension of the XA leg) TP-2: 0.86030 (targets the 2.618 Fibonacci extension of the XA leg) TP-3: 0.86240 (open target, to be adjusted based on price action) Risk Management: Always practice proper risk management. This trade recommendation carries inherent risk. Ensure your stop-loss is set as instructed and only risk a small percentage of your capital on this trade. Notes: The harmonic pattern and RSI divergence are strong indications, but not guarantees of a bullish reversal. Confirmation from price action, such as a break above the key support area, is recommended before entering the trade. Market conditions can change rapidly. This analysis is based on information available at the time of writing and may not be valid in the future. Disclaimer: This analysis is for informational purposes only and should not be considered as investment advice. Please consult with a qualified financial advisor before making any investment decisions.
Long
by trading_jupiter
XMRUSDT: Bullish Butterfly Update: Bullish Breakout Seems LikelyXMR, despite the spot pairing having been delisted on Binance a few months ago, has survived and held above the PCZ that was of very much importance to the historic price action. During the delisting XMR had sold off back down to the PCZ in record volumes on the exchange, however, in spite of record selling the support still held, since then, the price has stagnated at this level potentially hinting towards accumulation. If the Support had Broken XMR likely would have crashed all the way back down to 20 but for the time being the coin has proven resilient at this price level and it would seem that we will soon be marking up to significantly higher prices as the diagonal Bearish Trend seems to be coming to a close.
Long
by RizeSenpai