llywellyn

BTC Fractal Continuation

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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7
For this last impulse move down, the fractal I was following played out perfectly (blue). This is the continuation should it continue to follow the pattern. So far it seems to be but we will know more as a few more moves unfold.
Comment: interesting test here
Comment:
Comment: current thinking on this
Comment: break above ~6415 will cause me to rethink this - so far looks pretty good
Comment: actually this C wave could range up to ~6450 - fractal depicts a wave 5 failure before reversal
Trade closed: stop reached

Comments

I see only 3 waves formed...doing the 4th now..and then 5th at 5900-6000
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BS
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llywellyn Behrouzzz
@Behrouzzz, good comment ivan
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Brilliant. I think fractal approch is the best in bitcoin, considering how many bots that trade the market.
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llywellyn Sharky8899.
@Sharky8899., I've found it can be very effective to dial in your trades when used with other indicators. I never rely fully on a fractal but if it is showing adherence to the pattern I'll let it guide my entrance & exits.
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llywellyn llywellyn
@llywellyn, I was able to close my short & then simultaneously open a long at 6071 using this fractal along with elliott wave & RSI to confirm
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@llywellyn, impressive
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