Bearish Butterfly

6.0446   Bearish Butterfly   1238 Ticks   ETCUSD

Bearish Butterfly statistically is a countertrend pattern, so its ideal location is in an up trend near resistance. It signifies start of correction or trend reversal. It may also appear at the end of higher timeframe correction of down trend. In such case this pattern may mean the end of correction and start of a new trend leg.

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