Jump to: Pattern Result
Date and Arrival Time: 2020-11-20 09:25
Symbol Name: MCDOWELL-N
Pattern and Direction: Bearish Butterfly
Pattern Completion Price: 586.75, Pattern Ideal Completion Price: 585.10
A Completed Butterfly has arrived at 09:25.
This is a pattern with a formation span of 7 days starting from the 2020-11-11 15:10 – 2020-11-20 09:25.
There is a potential Sell opportunity at 586.75. A safe stop-loss for this Butterfly can be kept at a small % value above the completion D (above 586.75) depending on the trader’s risk tolerance. PatternSurfer always advocates tight stop-losses to maintain the best risk-reward ratios .
UPDATE: 20th Nov EOD – Success!
MCDOWELL-N saw a steady fall in price from the exact level of 586 as predicted by PatternSurfer’s Wolfe Wave. The maximum intra-day move possible was possible until Rs. 566, or traders could have also taken profits at EOD, at Rs. 572. Take a look at the chart below to see the results:
