This is a new update.
I've now added all the volatility boxes of consecutive Williams fractal lows (blue box) and highs (pink box) to the chart.
For the last pink box, the two consecutive Williams fractal highs have not confirmed yet - will remove it if result turns out different.
My reason for adding more to the chart is because it can't be ignored that this bear trap is beginning to look more like having only a 50% chance of repeating. The Williams fractal high target was missed - was too low, and opened up potential for a consecutive Williams fractal high after which could follow a bullish fractal low.
As the pattern comparison is becoming more complicated I've also drawn in some yellow trend lines , and boxed volatility of key Williams fractal highs in green with yellow borders. Obviously, a breakout of the top could signal a break with previous patterns, and a break out below could signal a bear trap pattern continuation , or, formation of a bullish fractal low.
I've also drafted in the Histogram, and MACD to help.
For more keys to chart see my previous postings which also included a Bollinger Band .
Note: For those who are not familiar with Trading View the chart above can be dragged backwards and forwards to view more.
NOT ADVICE. ALL STANDARD DISCLAIMERS APPLY. DO YOUR OWN RESEARCH. BEYOND T.A.
I've now added all the volatility boxes of consecutive Williams fractal lows (blue box) and highs (pink box) to the chart.
For the last pink box, the two consecutive Williams fractal highs have not confirmed yet - will remove it if result turns out different.
My reason for adding more to the chart is because it can't be ignored that this bear trap is beginning to look more like having only a 50% chance of repeating. The Williams fractal high target was missed - was too low, and opened up potential for a consecutive Williams fractal high after which could follow a bullish fractal low.
As the pattern comparison is becoming more complicated I've also drawn in some yellow trend lines , and boxed volatility of key Williams fractal highs in green with yellow borders. Obviously, a breakout of the top could signal a break with previous patterns, and a break out below could signal a bear trap pattern continuation , or, formation of a bullish fractal low.
I've also drafted in the Histogram, and MACD to help.
For more keys to chart see my previous postings which also included a Bollinger Band .
Note: For those who are not familiar with Trading View the chart above can be dragged backwards and forwards to view more.
NOT ADVICE. ALL STANDARD DISCLAIMERS APPLY. DO YOUR OWN RESEARCH. BEYOND T.A.
Comment:
ROUNDUP OF ALL MY POSTINGS
A Williams Fractal low followed by consecutive Williams Fractal highs, all we need now is a bullish Williams Fractal low above the previous fractal low for a bounce like that formed 29 June, 4 July, 7 July, and 12 July respectively. How much room does the market have for a bullish bounce?
In my post 19 Aug I questioned "bitcoin bear trap - Is it too late to work/repeat" and I marked in green the volatility of a key fractal a breach of which was previously a bear signal. To sum up all my posts about that signal it bears no resemblance to previous bear signals - mist targets, and William Fractals, therefore best to ignore it.
The next potential was also posted same day 19 Aug headed "bitcoin potential $8,644 - $8,309.1 if holds $6,008. new study" and this can't be ignored.
Since publication of the post the signal went higher (add light blue vertical), and lower (add purple vertical). The good news is that the last fractal high was made before it. Had it been made after then it would have been starting off as a red box and a sell.
So now, will the shape of the next fractal low be that of a green box and a buy? Always take only the reading of the first fractal after a change in direction of the signal line.
Can it be formed before the low of $6,008 made 11 Aug?
A break below the low of 14 Aug $5,858.6 as per my post 15 Aug "#bitcoin mega quant move here's how and why - update" favours the bears. At this time of posting that quant move still favours the bulls.
If we do get a fractal bounce then I expect it will form a key upward trend line.
How to trade these possibilities is not something I'm going to get into.
NOT ADVICE. ALL STANDARD DISCLAIMERS APPLY. DO YOUR OWN RESEARCH.
A Williams Fractal low followed by consecutive Williams Fractal highs, all we need now is a bullish Williams Fractal low above the previous fractal low for a bounce like that formed 29 June, 4 July, 7 July, and 12 July respectively. How much room does the market have for a bullish bounce?
In my post 19 Aug I questioned "bitcoin bear trap - Is it too late to work/repeat" and I marked in green the volatility of a key fractal a breach of which was previously a bear signal. To sum up all my posts about that signal it bears no resemblance to previous bear signals - mist targets, and William Fractals, therefore best to ignore it.
The next potential was also posted same day 19 Aug headed "bitcoin potential $8,644 - $8,309.1 if holds $6,008. new study" and this can't be ignored.
Since publication of the post the signal went higher (add light blue vertical), and lower (add purple vertical). The good news is that the last fractal high was made before it. Had it been made after then it would have been starting off as a red box and a sell.
So now, will the shape of the next fractal low be that of a green box and a buy? Always take only the reading of the first fractal after a change in direction of the signal line.
Can it be formed before the low of $6,008 made 11 Aug?
A break below the low of 14 Aug $5,858.6 as per my post 15 Aug "#bitcoin mega quant move here's how and why - update" favours the bears. At this time of posting that quant move still favours the bulls.
If we do get a fractal bounce then I expect it will form a key upward trend line.
How to trade these possibilities is not something I'm going to get into.
NOT ADVICE. ALL STANDARD DISCLAIMERS APPLY. DO YOUR OWN RESEARCH.
Comment:
One final point just noticed about the consecutive Williams fractal highs is that the second did not form a higher high which is unusual given past patterns. Would that be counted as bearish?
NOT ADVICE. ALL STANDARD DISCLAIMERS APPLY. DO YOUR OWN RESEARCH.
NOT ADVICE. ALL STANDARD DISCLAIMERS APPLY. DO YOUR OWN RESEARCH.
Check out my latest post: #bitcoin potential $8,644 - $8,309.1 if holds $6,008. new study.