AS PER BUTTER FLY PATTERN GO LONG FOR SBIN
The butterfly pattern was discovered by Bryce Gilmore who used different combinations of Fibonacci ratios to identify potential retracements. It is a reversal pattern composed of four legs, marked X-A, A-B, B-C and C-D.
The most important ratio to define is the 0.786 retracement of the XA leg. This helps to plot point B, which will help traders to identify the PRZ.
The butterfly pattern was discovered by Bryce Gilmore who used different combinations of Fibonacci ratios to identify potential retracements. It is a reversal pattern composed of four legs, marked X-A, A-B, B-C and C-D.
The most important ratio to define is the 0.786 retracement of the XA leg. This helps to plot point B, which will help traders to identify the PRZ.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.