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Butterfly Sell chart pattern

Butterfly Sell price target



EUR/USD Technical Chart Analysis



On Friday, we had a perfect butterfly sell chart pattern. Today, the Euro initially went down (Evening Star chart pattern from Friday) and found support at the 61.80 %  fib retracement (1.2889) and resistance at the hourly trend line (blue).

Butterfly sell pattern
1 hour Butterfly sell pattern

Typical Consolidation Pattern



On the 5 min EURUSD Chart below another typical three swing consolidation pattern is visible just at the daily Pivot Point support. The breakout of the consolidation pattern occurred with the start of the new hourly candle at 12. a.m. (Important Timing Point). The up move of the Euro found resistance at the hourly downward sloping trend line.


Interestingly, the consolidation pattern and the false breakout to the 161 % Fibonacci level at 1.2979 is very similar to the butterfly sell chart pattern. After the false price breakout to the upside to the major 161 % butterfly sell target market reversed and retraced the up move. The Euro targeted the final 161 % butterfly sell target at 1.2940, where the EURUSD paused a while before market continued the downward move to the weekly Pivot Point. The weekly Pivot provided solid support (together with the 100 % Fibonacci Extension level of the recent swing at 1.2932) and the Euro bounced back up to the daily Pivot Point.

Overall, the daily Pivot Point provided solid support at 11 a.m.. After the confirmed break of the daily Pivot to the downside at around 3 p.m. the daily Pivot changed its role from support to resistance as often after a confirmed break of important chart levels.


hourly resistance, 20 sma, daily pivot
5 min EURUSD Analysis

Butterfly price targets

Trading the Butterfly pattern


A Butterfly chart pattern was in today's Forex trading session in the EUR/USD on the 5 min chart (last chart).

The Euro found resistance at the 127 % butterfly sell target (5 min chart) and from there the EUR/USD went straight to the 161 % butterfly pattern target. The consolidation price zone of the triangle pattern (hourly chart) and the hourly 200 SMA also gave some support at the 161 % butterfly pattern target at around 1.2940.

On the 4-hour chart we see an Evening Star pattern.

Evening Star pattern
4 hour Evening Star pattern

triangle breakout
1 hour triangle breakout



perfect butterfly sell pattern
5 min butterfly sell pattern

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