CADJPY - 4 HOUR - A Butterfly Pattern That I Actually Like

You don't see me post a lot about the Butterfly Pattern or any of the others that have a "D" Completion point beyond the "X" leg because they don't fit within my philosophy & how I value structure. With that being said I don't dislike the pattern, infact it's one of my favorites from a price action psychology perspective (which we won't get into here).

But what makes this potential Bearish Butterfly Pattern stand out is the fact that we wouldn't have to have a blind stop loss because the D completion actually lines up with a higher timeframe level of structure looking left. This adds more confluence to the opportunity whether you're a butterfly trader or a structure playing looking to build your CTS score at that level. Either way I think it's a decent opportunity to look for shorts.

If you have any questions or what to leave any comments about this idea please do so below. Also, don't be shy about sharing how you view this pair as the more ideas we have the more newer traders get to learn.

Your Trading Coach - Akil