HUL - Butterfly

The Butterfly pattern can be found near key market reversal points, usually at intermediate highs and lows. The appearance of the butterfly pattern indicates reversals when it is validated. The chart below gives an illustration of the Bullish and Bearish butterfly patterns.

Probable Bullish Butterfly Pattern forming in hourly TF near Daily support zone .

Worth keeping in watchlist for a short term trade.


price entered the support zone and PRZ.
waiting for confirmation candle.
invalidation if hourly close below the support zone.
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