mates, a butterfly pattern type#2 reversal on my radar. notes on the chart.
Komentarze
AhmedHamdan1
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Hello, would you please assert the targets ?
Alexander_Nikitin
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@ahmedhamdan, hello. targets depend your trading plan. conventional targets are 0.382AD and 0.618AD. in case of type#2 reversal usually 0.382AD trailer is used instead of target2 to get the maximum of the movement. But it all depends on what you have tested and found profitable. My personal preference is to place 1/3, 2/3 and 3/3 of AD. Anyway, an agressive trade management is required for all harmonic patterns. when it is not used traders let the winners turn into losses.