🦋 Title: A Butterfly on the Edge – But Only with Confirmation
On the 2H timeframe, a Bullish Butterfly Harmonic Pattern is unfolding. The wave structure (X → A → B → C → D) aligns closely with harmonic principles, and point D lies above X, within the 1.27 to 1.618 Fibonacci extension of XA — reinforcing the pattern’s validity.
📌 No entry has been triggered yet.
We are currently waiting for price to break and hold above the key resistance at 13.60 to confirm the bullish scenario.
🔹 Bullish Scenario (our primary and preferred outlook):
Given the strong reaction around the 12.74 demand zone and the harmonic structure completion, we are primarily focused on a long opportunity, if and only if confirmation is achieved above 13.60.
📥 Entry Zone: 13.05 – 13.65
🎯 Target 1: 17.94
🎯 Target 2: 18.76
🛑 Stop-Loss: Below 12.74 (structural invalidation)
🔻 Alternative Bearish Scenario:
If price fails to break 13.60 and instead loses the 12.74 support, the bullish setup becomes invalid, and the market could enter a deeper correction phase.
Potential downside targets in that case:
📉 11.80
📉 10.90 – 10.30 (if bearish momentum continues)
📊 Risk Management Notes:
Position sizing should not exceed 1% of total capital
Avoid early entries before confirmation
Prefer partial entries after breakout and retest
Stick to the invalidation level strictly
📈 While both scenarios are on the table, we are currently favoring the bullish setup, as long as price action supports it. Discipline and patience are key — confirmation first, trade second.
On the 2H timeframe, a Bullish Butterfly Harmonic Pattern is unfolding. The wave structure (X → A → B → C → D) aligns closely with harmonic principles, and point D lies above X, within the 1.27 to 1.618 Fibonacci extension of XA — reinforcing the pattern’s validity.
📌 No entry has been triggered yet.
We are currently waiting for price to break and hold above the key resistance at 13.60 to confirm the bullish scenario.
🔹 Bullish Scenario (our primary and preferred outlook):
Given the strong reaction around the 12.74 demand zone and the harmonic structure completion, we are primarily focused on a long opportunity, if and only if confirmation is achieved above 13.60.
📥 Entry Zone: 13.05 – 13.65
🎯 Target 1: 17.94
🎯 Target 2: 18.76
🛑 Stop-Loss: Below 12.74 (structural invalidation)
🔻 Alternative Bearish Scenario:
If price fails to break 13.60 and instead loses the 12.74 support, the bullish setup becomes invalid, and the market could enter a deeper correction phase.
Potential downside targets in that case:
📉 11.80
📉 10.90 – 10.30 (if bearish momentum continues)
📊 Risk Management Notes:
Position sizing should not exceed 1% of total capital
Avoid early entries before confirmation
Prefer partial entries after breakout and retest
Stick to the invalidation level strictly
📈 While both scenarios are on the table, we are currently favoring the bullish setup, as long as price action supports it. Discipline and patience are key — confirmation first, trade second.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.