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.
Showing posts with label continuation. Show all posts
Showing posts with label continuation. Show all posts
Thursday, July 16, 2009
NeboXian's Butterfly Chart Pattern
Posted by Neboxian at 1:50 AM 0 comments
Labels: asymmetrical triangle, butterfly chart pattern, continuation, expanding triangle, NeboXian's Butterfly, reversal, spx, triangle chart pattern
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