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Thursday, July 16, 2009

NeboXian's Butterfly Chart Pattern

Spx chart

Seriously, I have never heard of or found a butterfly pattern in the books.
But it is interesting.

My take on this.
There is an asymmetrical triangle on the left and an expanding triangle on the right .

Bulkowski's sight explains expanding T's.
Both are continuation patterns but expanding T's can also be reversals.

The asymmetrical triangle on the left is a continuation to the up side.

The expanding triangle on the right looks to me like it could be a continuation to the up side or a reversal to the down side.

I don't really have a firm opinion here.
I just thought it was interesting and gave it a name NeboXian's Butterfly and wanted to share it with you.

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