the butterfly is really more of a high-level overview which suggests a longer term sentiment, and tends to play out very well over time. Regarding the chart I posted, I was not trying to call a top or even suggest a trade entry, it was merely a high level overview of the possibility of a trend change once the pattern is complete. Veteran trader Larry Pesavento is famous for butterfly patterns... there is a great book he wrote that goes into the details called "Trade What You See", highly recommended if one is so inclined.
bats, frogs, wombats, moths or lizards are not my purview![](https://resources.faireconomy.media/images/emojis/64/1f609.png?v=15.1)
bats, frogs, wombats, moths or lizards are not my purview
![](https://resources.faireconomy.media/images/emojis/64/1f609.png?v=15.1)
Disliked15 m chart tells the story .. I stayed in the trade through both (nail-biting) tests of 200 ena as it was not significantly violated .. finally took profit when she agaiin failed to close above the H3.
This was a great trade off a very simple chart .. no elliot waves, butterflies, bats, moths or other fancy stuff.
At my age, less complicated = better!Ignored
"The real genius is knowing when to stop." - Marc Faber