20191103 XBTEUR Open Short Position

Hi there,

I'm basing my analysis on Fractals Expanded as usual, or algorithms used on bots, or cycles.. At this point, i found it more clear to see where we are standing up right now. Is just a theory so again, is not investment advice.

I have marked in red arrow to reference points. Right now we are at the first Arrow position according to my studies, Fibonacci Retracement, and i've seen the same behavior on RSI.

Remember we are in November and last year at this same period we had a downtrend so watch out.

Hope you find it helpful.

Cheers.

Charter X

Comment:

Just a couple of things to have in mind.

There have been a lot of cup a handles movements lately. This tends to confuse where to enter of to get out of positions, so i recommend to wait and extreme point, like where rsi is high or low, or if there a clear pattern about to begin or to end. Otherwise, and specially if you like to do scalping, you could get trapped in the middle ( i tell this by personal experience ).

And another support on Fractal or Cycle of what i believe is used for accumulation:

Ill let you know if i see something else that could support this idea.

Cheers!

Charter X

Comment:

Hi there!

So a little update on the same idea. So far the prices is following the path i traced as you can see. This is the part of the algorithm i believe we are right now.

Besides this, If you see the RSI is really high on 1 or 2 hs Chart.

1H:

2H:

So, you may spect to be a little roller coaster right now. So watch out!

Hope this help you out. Have a safe trading!

Cheers!

Charter X

Comment:

PS:

It will probably stay in the triangle that is right now:

Comment: