this is a nice one … IF it fails THEN the USD is going to take off.
highly probably pattern so expect some weakness in the USD vs CHF in/around these levels.
here’s why it’s called the “butterfly pattern”
when looking for butterfly patterns just think of it as connecting two triangles. the key to the butterfly is the AB=CD leg that makes the high or low. If you have that along w/ the extension targets mentioned then you have a butterfly sell (or buy) set up occurring.
here’s the intraday picture that will give us an idea if this pattern holds or not.
happy hunting.
Bart
