So apparently past patterns can repeat again.
Well I have found one on BTSBTC that seems to be working out like the same time in 2016.
It started by finding a curving bottom and I wanted to see if that resulted in a rally. Examples will follow below.
So anyway we broke out of a falling wedge to the 70 ema. Now I expect a touch of the curving yellow line and then a potential 35% rally to the upside (via quick stop at the 200 ema and a .618 retrace) before we eventually break down and drift lower.
If history really does repeat itself then we shall witness it soon enough...
Well I have found one on BTSBTC that seems to be working out like the same time in 2016.
It started by finding a curving bottom and I wanted to see if that resulted in a rally. Examples will follow below.
So anyway we broke out of a falling wedge to the 70 ema. Now I expect a touch of the curving yellow line and then a potential 35% rally to the upside (via quick stop at the 200 ema and a .618 retrace) before we eventually break down and drift lower.
If history really does repeat itself then we shall witness it soon enough...
Comment:
here is the pattern from march 2016 that I am watching to replicate.
Comment:
The curved bottom...
Comment:
Curved bottom 2016 and subsequent breakdown...
Trade closed: stop reached:
Wow would you look at that!