GBPNZD (Butterfly Pattern) - 4h Chart

FX:GBPNZD   英镑/纽元
Bullish Butterfly Pattern
- A-B must touch 0.786, but cannot exceed X
- B-C touches 0.382, but sometimes goes further (does not exceed A)
- ABCD formation. D has to reach outside X and touch 1.272 or 1.618
- First TP at 0.618 (Fibo D-A)
- Second TP at 0.382 (Fibo D-A)
- Third TP back to where it all started at top

Left Leg:
We can see an ABCD pattern been completed inside left leg
- 4 clear points
- consolidation between B and C
- clear resistance at point D for bearish movement

Right Leg:
After ABCD pattern there was a bullish impulse for point C of Butterfly Pattern , this iniciated a bearish Elliott Impulse
- 5 clear points
- 1 and 4 don't overlap
- 0-1 same distance as 4-5
At this point point 5 gave us D completion at 1.618 for bullish movement, but there has to be some type of consolidation at this area after so much movement, trade well and look for bullish entries.
Good Trading. - 4h Chart
Jun 21
评论: First TP reached


pinche culon regresa
hope it will go up
+1 回复
DanielParra99 waqaskhan240
@waqaskhan240, Just got in that bullish impulse thanks to that Double Floor at D completion, trade is now active and hope to reach those TP.
nice explanation
+1 回复
DanielParra99 waqaskhan240
@waqaskhan240, Thank you!
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