Larry Pesavento says the butterfly pattern often ID's reversals, and when it fails, you usually know pretty quick, and get out fast as next logical reversal is the 161.80% fib line.
The small green horizontal rows of dots are the .382 and .618 price fibs for prior leg. Note how Wave A and Wave B stopped at those fib lines.
.382 up from the 127.20 fib line would be about 53.24.
Can't say how long a trade this is, other than managing it using the daily chart and inner market clues. I note that T's post of Tim Morge's analysis shows inner parallel line of Morge's lower Andrews tine was @ 1480. Price reached 1526 today but the chart seems to be suggesting that there could be more time and waves yet to unfold before that kind of test. It also bounced off an old TDST line.
