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Showing posts with label butterfly chart pattern. Show all posts
Showing posts with label butterfly chart pattern. Show all posts

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.