This is an example of a Bearish Butterfly Pattern. I have placed the information on the chart for the XABCD points so you can perform your own calculations. I always print my charts and do much of the analysis by hand. See My Trading Toolbox to see how I trade. I do use the computer to draw Fibonacci Retracement Levels and Extensions. However, when you are first beginning to trade, it is better for you to do the hand calculations. You will thank me later. : )
Happy Trading!
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| Bearish Butterfly - Example |
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