Potential intraday bullish harmonic (butterfly) setup.
On completion of CD leg we could take a long position targeting T1= 38.2 & T2 = 61.8 retracement levels of AD as shown.
Please note the D point shown is an ideal 1.27XA extension, actual D point may vary from that depicted.
As usual please follow your own risk management rules if you decide to take the trade, good luck!
Pattern invalidated by spike up.
Just realised its the UK general election today, so I would caution trading this until after the election results come through & then see if the pattern is still valid. Exit poll results come out 10pm BST.
On completion of CD leg we could take a long position targeting T1= 38.2 & T2 = 61.8 retracement levels of AD as shown.
Please note the D point shown is an ideal 1.27XA extension, actual D point may vary from that depicted.
As usual please follow your own risk management rules if you decide to take the trade, good luck!
Pattern invalidated by spike up.
Just realised its the UK general election today, so I would caution trading this until after the election results come through & then see if the pattern is still valid. Exit poll results come out 10pm BST.