CHART PATTERNS: BEARISH HARMONIC BUTTERFLY PATTERN FORMED ON GBPUSD

It is Friday, and more than partying, I would like to get my patterns straight already - that’s how much I love them. Besides, there has not been much to party about since my executions so far have not been worthwhile.

So, amongst many fine setups, I present the finest: Harmonic Butterfly’s PRZ (region covered by indigo lines) in confluence with Fibonacci retracement-retracement cluster (region covered by green lines).

A bounce or reversal candle stick pattern that forms in the confluence is a sign to short this pair.

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About Moshow

Oseni Moshood ( Moshow) is a physicist, a blogger and a spot trader with years of experience. He trades only price actions partly because he thinks Economics is boring; or, probably because he failed Economics; and he loves fine artistic works.