Butterfly at C point
Updated
Daily:
- price is at descending trend line resistance.
- price near structure and top of channel
- RSI is making downward trend.
4hr.
- Butterfly pattern evident.
- only concern is 707 ratio should be 786.
- look for break out of 1 hour or small time frame or reversal candle stick.
- RSI is currently overbought on smaller time frames.
Smaller time frames
- wait for break out of pink minor trend line
- or if other reversal pattern develops.
- price is at descending trend line resistance.
- price near structure and top of channel
- RSI is making downward trend.
4hr.
- Butterfly pattern evident.
- only concern is 707 ratio should be 786.
- look for break out of 1 hour or small time frame or reversal candle stick.
- RSI is currently overbought on smaller time frames.
Smaller time frames
- wait for break out of pink minor trend line
- or if other reversal pattern develops.
Note
Price made a significant drop!
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