Jump to: Pattern Result
Date and Arrival Time: 2021-02-23 13:15
Symbol Name: ONGC
Pattern and Direction: Bearish – Butterfly
Pattern Completion Price: 114.40, Pattern Ideal Completion Price: 113.35
A Completed Butterfly has arrived at 13:15.
This is a pattern with a formation span of 28 days starting from the 2021-01-13 10:15 – 2021-02-23 13:15.
There is a potential Sellopportunity at 114.40. A safe stop-loss for this Butterfly can be kept at 120.30 as per the pattern or 1-2% above the completion depending on the trader’s risk tolerance. PatternSurfer always advocates tight stop-losses to maintain the best risk-reward ratios .
UPDATE: 30th March – Success
While the price level tested the upper limits of the pattern on two occasions, there was a corresponding fall and the price achieved the target at the 0.618 level. Let’s take a look at the results below:
