Bearish Butterfly
Butterfly Pattern in makingBearish Butterfly pattern is in making on SBIN daily Chart. Leg XA, AB, BC are completed and CD is under formation. it may go upto 317 to 340 level , before the downward movement.
Declaimer : This analysis is for education purpose only. If you want to trade for CD leg or DE leg, consult your financial adviser.
Nifty: Potential For The Rising ButterflyIts been a while since I wrote on the Index. In my last post I marked 10094-10013 as the key area.
Market tested that key area and bounced sharply. Although the Bat pattern could not complete as per expectations, market reacted near 1:1 level (10013) shown in the above post and the cautious approach on bearish side worked quite well in protecting us.
Current Scenario: Suppose the current move takes the market above 10330 level or above the red downtrend line. I that case, I would expect
THE BEARISH BUTTERFLY: FLUTTERING NEAR RESISTANCEA bearish pattern in the formation..Also pattern PRZ confluence with the resistance trendline. Bearish reversal pattern in the zone triggers short.
See the chart for detailed view.
Don't forget to hit like and follow.
Trade safe, be healthy.
Regards
Bravetotrade
Bearish Butterfly, 15 mins ACC @ 1626.5Hi
A bearish butterfly near completion on 15 mins chart. Trade levels as follows.
BEARISH BUTTERFLY
PRZ Completion : 1626.5
TP 1 : 1601.7 ( 38.2%)
TP 2 : 1586 (61.8%)
STOP : 1636
Watch price action for entry. we have bigger pattern on development on hourly chart, will be posting.
Trade with care
Gulz
Nifty : Will Butterfly Fly away ??Hi Guys... its been a while right ? yeah..long weekends n other commitments to fulfill with Nifty ranging in flag, there is nothing interesting for the last two trading days. Not anymore... Probably Nifty will decide its path in a day or two, Doji's indicate 2 things - Indecision & A Decision soon. So its time for Nifty to decide the direction, we have Bearish Butterfly n flag ranging. If Bearish Butterfly wins, flag breaks-down to south which is considered as failure of Bullish Flags. If Flag











