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Market Analysis Thread, DJIA - Bearish Butterfly Pattern in Welcome to Traders Laboratory; hi, i'm a newbie ...
i found interesting pattern on DJIA chart.
please comment ...
more about butterfly pattern :
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I'd never heard of that particular pattern before, but what you've outlined isn't consistent with what is outlined on the site you gave for a bearish "butterfly" pattern. You've still got higher highs and higher lows here. If there was a confirmed break of the CURRENT price level (as it has just now come down to a support area) then I would be bearish. I'm currently still long these markets, though.