Bullish Butterfly has been detected on GBPCHF1hr.
Bullish Butterfly statistically is a countertrend pattern, so its ideal location is in a down trend near support. It signifies start of correction or trend reversal. It may also appear at the end of higher timeframe correction of up trend. In such case this pattern may mean the end of correction and start of a new trend leg.
Bullish Butterfly statistically is a countertrend pattern, so its ideal location is in a down trend near support. It signifies start of correction or trend reversal. It may also appear at the end of higher timeframe correction of up trend. In such case this pattern may mean the end of correction and start of a new trend leg.