a perfect bullish butterfly is formed a long trade can be initiated on 2nd green candle when it breaks above the first green candle with a stoploss of low of 1st green candle.
target based on Fibonacci
target 1: 38.2% retracement
target 2 : 61.8% retracement.
Hi Friends,
Here is a bullish butterfly near to its D leg completion.
Trade levels are mentioned on chart – feel free to check it.
Note : RSI entered to oversold territory.
Trade with care,
Gulz.