Jump to: Pattern Result
Date and Arrival Time: 2020-11-18 15:30
Symbol Name: TATAMOTORS
Pattern and Direction: Completed – Bearish Butterfly
Pattern Completion Price: 174.9, Pattern Ideal Completion Price: 174.15
A Completed Butterfly has arrived at EOD on the 18th November.
This is a pattern with a formation span of 44 days, over a long time period, from the 2020-09-16 14:15 – 2020-11-18 15:30. PatternSurfer algorithms have seen many tremendous Butterfly trades over the longer term such as this HEROMOTOCO.
There is a potential Sell opportunity at the pattern completion (D) of 174.15. A safe stop-loss for this Butterfly can be kept at a small percentage above the completion price D depending on the trader’s risk tolerance. PatternSurfer always advocates tight stop-loss levels for the best risk-reward results.
UPDATE: – Nov 27th EOD – Invalidated
In comparison to previous Butterfly patterns over longer time frames, this TATAMOTORS Butterfly has seen only slight success. There was a maximum profit of more than 5% achievable for the first 3 days within pattern completion, but afterwards the price proceeded to move against the expected direction and became invalid. If traded with a trailing stop-loss strategy (as is suggested for most long span patterns), the pattern could have yielded a small profit. Take a look at the results below:
