Monday, January 27, 2014

Butterfly pattern - entry techniques

There are several entry techniques for the butterfly pattern trades -> Thread: Entry techniques for the butterfly pattern

Most agressive is to catch the exact top / low, but this requires experience and top skills. Great satisfaction when you catch the exact top / bottom, but can be painful if you miss several such entries in a row.

An alternative, less risky but offering poorer R:R, is the entry on the re-test of the D price level (88.6 - 100% retracement):


It's up to you to choose. When mastered, the Butterfly pattern beats the Gartley pattern!


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