Chart of the moment: $NZDUSD, a Bearish Butterfly it is

by Gav 2010-09-07T17:35:01Z

Here is what I see in Kiwi dollar ($NZDUSD). We are looking at a bearish butterfly pattern now, well, in case you are into harmonic pattern.

Again, is the chart trying to tell you something?

Trade well.

Comments

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Gav (Trader Gav) — Trackback2010-09-08 11:52:39 UTC
$NZDUSD pulls back to 78.6% of the most recent down swing in hourly. Bearish butterfly (http://bit.ly/axX1wa) is still alive.for now,maybe
Andrewunknown2010-09-08 23:48:00 UTC
Talk about sharp eye, this is dead on a bearish butterfly in every detail: great job. Once you get a basic feel these are very easy to spot, though some of the finer points take some time to remember (harmonictrader.com or the page you noted earlier is good to have on hand as a resource for the retracement/projection/extension values on each pattern. I posted a chart which outlined the same pattern with a bit more explanatory detail of the fib levels: http://chart.ly/v36sv5s .
BertromavichEdenburg — Trackback2010-09-11 10:27:14 UTC
Chart of the moment: $NZDUSD, a Bearish Butterfly it is | Gav's ...: Posted in Chart of the moment, Trading Journa... http://bit.ly/boBWzW