some posts below we presented ideal/proper position for the butterfly tradable pattern. Here comes an example where Short should not be executed or at least trader should be aware of the long bias.
Getting there
4 years ago
Thursday, August 26, 2010
Butterfly wrong position
some posts below we presented ideal/proper position for the butterfly tradable pattern. Here comes an example where Short should not be executed or at least trader should be aware of the long bias.
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Or as to describe it better way if butterly is marked from the bottom like this way that actual XABCD behaviour should be even marked but what makes sense is to simple drop number 1 for end point of D.
That number suggest end if first impulse and it can be far much stronger information than anything another, because it is premilinary warning that possible W3 is under way as next after small corrective W2.
Drop 1 for it.
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