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| Market Reversal Butterfly Pattern 8-3-11 |
I commence with my gratitude to The Creator
When a market makes a double bottom, in form of Gartley or Butterfly pattern, then markets are poised to run to the opposite direction with greatest probability.
Butterfly pattern is when market retraces to ‘C’, at least 61.8% (or 78.6%) of ‘AB’ and then rallies and makes a lower high and then drops again and this drop to point ‘E’ and it is extended up to the 127.2% retracement of ‘AB’ and it must also coincides with at least 161.8% – 223.6% retracement of ‘CD’ wave and at least 200% – 223.6% expansion of BC
THE MOST ACCURATE FORECASTING OF FINANCIAL MARKETS
http://trade-in-harmony.blogspot.com/
Thanks Mr, Syed.
Where is the rebounce target of this trend?
unfortunately last days calls are very bad, you're calling bottom since 1300 points on SP500 and now its 1240 ouch…
but maybe today will be bottom finally. but someone who took shorts at 1300-1280 is bleeding
I think a signal bottom was formed on Aug 2nd with follow-through rally yesterday.
One interesting thing is about the divergenece in volume vs. price during the path of DE, which should be a clue for the coming up move.
DL
I think a signal bottom was formed on Aug 2nd with follow-through rally yesterday.
One interesting thing is about the divergenece in volume vs. price during the path of DE, which should be a clue for the coming up move.
DL