Short Gold for pullback to fractal level
Hello tradingview, this is the first time I have personally worked with fractals. I was trying to figure out what BTC was doing in this consolidation that could indicate our next move, when suddenly I saw how similar the orange box on the 30 minutes looked like what happened on the 4h early april, you can see the orange box very clearly on the 4H aswell if you...
Welcome Back Apostles! How about some more fractals?? Omni has been a coin on my radar recently, as it seems to be playing out a fractal damn near the exact same as the one formed almost a year ago! Below, I have highlighted some points of interest in helping me determine where this market is headed. Taking a look at the first fractal we can see the strong...
Blue overlay is my top pick. There are other scenarios as well. Some involve a middle period of going sideways. That said, geometric fractals exist within an equilateral triangle. An equilateral triangle is half of a square. The top of the triangle/middle of that square has been our major source of resistance (if one were to assume as I do that we've just...
Maybe or maybe not, who knows?
Purely SD based setup. FOR EDUCATIONAL PURPOSES ONLY. Looking for a retracement above to short.
Since I still don't know what I'm doing beyond elementary indicators, support and trends, I like to play with things like fractals.
USDCAD: Short for dark cloud cover & bear fractal breakout
- 2014 break through log resistance inspired confidence in the market, good news (Dell announces support of Bitcoin, Overstock.com) - 2018 break through log resistance inspires confidence -Support line at $8400 based on initial correction after the move through the resistance line in 2014 Trade Idea: Buy at $8400 Sell at $8970
Look out below! ;) The bears are winning at the moment. We have lost the support at the 1200 EMA for right now, on the 4 hour chart. There seems to be a fractal relationship between the head and shoulders target and the support from the uptrend. Note the bounces at high volume trading and you will see an uptrend. Also, note how oversold is at the moment. I...
These are my current thoughts on Bitcoin, playing with fractals (defined by the different colors) and resistance also Stoch RSI is low and has room to grow.
Currently there are 50% more longs than short and we should expect a squeeze soon. Bulls are running out of buying power and these longs will be trapped. This fractal is a likely scenario.
Trade entry on completion of the fractal setup has provided some initial profit at the 1.618 fibo extension... position is now neutral and there is no value in buying up here as it presents no real value and stops may quickly be triggered. Wait for the retracement down to the now support area before trade entry and look to take profit on the full extension. Any...
Orange box indicates a reoccurring pattern. If history repeats itself, we might get a decent buying opportunity in mid-end of May (even though I don't think we will go as low as 300… maybe 360) or another one in mid July before it takes off to new highs.