The Butterfly Pattern



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About this Butterfly Quiz


This is an innovative online quiz so you can quickly learn and/or verify your trading skills with the Butterfly pattern, one of the most popular harmonic price pattern.

Together with the Gartley pattern, Butterfly offers high probability change in the market direction. It allows to spot the exact end of the swings or trends. There is no better place to enter the market than D point of the Butterfly pattern.

Before you Start ...






It takes in average 9 minutes to complete this Quiz.


Answer at least 23 questions (or 75%) correctly to pass.


Let's start

QUESTION 1/30

The Butterfly pattern was discovered and described by:





QUESTION 2/30

The location of the Butterfly pattern suggests that it is supposed to be a:





QUESTION 3/30

Which of these gentlemen never described or analyzed the Butterfly pattern?





QUESTION 4/30

The Butterfly pattern presented in the following picture is an example of a:




QUESTION 5/30

The Butterfly pattern presented in the following picture is an example of a:




QUESTION 6/30

The 'overbalance rule' and technique applies rather to ____ than to ____ :




QUESTION 7/30

According to Elliott Wave theory, the best locations of the Butterfly D point, are the:





QUESTION 8/30

The internal structure of the whole Butterfly pattern is extremely important. Each swing can be divided in to smaller zigzag moves. Swing CD should ideally consist of:




QUESTION 9/30

We should start to look for an emerging bullish Butterfly pattern when the price:






QUESTION 10/30

The B point of the Butterfly pattern should ideally be the:






QUESTION 11/30

The D point of the Butterfly pattern should be located:





QUESTION 12/30

External price retracements are most important when defining the Butterfly pattern:



QUESTION 13/30

The external price retracements used to define a PRZ of the Butterfly pattern, are retracements of:



QUESTION 14/30

Price expansion is the key Fibonacci measurement used when defining the Butterfly pattern:



QUESTION 15/30

It’s harder to define a Stop Loss level for the Butterfly than for the Gartley pattern:



QUESTION 16/30

In a bullish Butterfly pattern, point C should be:



QUESTION 17/30

When defining the harmonic Butterfly pattern, we should analyze:




QUESTION 18/30

When trading the Butterfly pattern, we are able to enter a new trend earlier than with the Gartley pattern.



QUESTION 19/30

The books say that ‘success ratio’ of the the Butterfly pattern is about:





QUESTION 20/30

The actual winning ratio of the Butterfly pattern is:





QUESTION 21/30

Which of the following confirmation techniques are NOT RECOMMENDED for trading the Butterfly pattern:









QUESTION 22/30

The difference between a Butterfly and a Crab pattern is the location of:




QUESTION 23/30

The proper market location of point X in both the Gartley and Butterfly patterns is EXACTLY the same:



QUESTION 24/30

We should avoid trading the Butterfly pattern at the 127% retrace of the XA swing



QUESTION 25/30

The Butterfly bullish pattern is more reliable than the Butterfly bearish pattern:



QUESTION 26/30

We cannot consider this setup as a Butterfly pattern because of the location of:





QUESTION 27/30

We cannot consider this setup as a Butterfly pattern because of the location of:





QUESTION 28/30

We cannot consider this setup as a Butterfly pattern because of the location of:





QUESTION 29/30

If the B point of the Butterfly pattern is at 70% retrace of the XA swing, shall we still consider it as a tradable setup?



QUESTION 30/30

The Butterfly pattern, in many publications, is often also called a:





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Beginner, Intermediate and Advanced

  • This Butterfly pattern related quiz is one part of a three-part series. Check out the harmonic Butterfly pattern Intermediate and Advanced level quizes. Direct links to be provided to people who successfully complete this Beginner level Quiz.

    You may also like to check the Gartley quizes, the available beginner, intermediate and advanced levels.

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