Hello guys, my two previous charts got no hit and this is normal as I am doing experimentation here. Market got sideways after retesting our circle fib much earlier than expected and got into a range, my time fib failed completely and this is exactly something I am working to get better. Ir order to get better results I bring together today in my charts the gann fan tool. I will use it primarily to filter out erratic time fibs.
This time instead of one bullish and other bearish chart I put together both. So those following on both sides could get some inspiration. At the same time nobody get blind if market don't go on your direction.
The strategy is always to get the lower risk and higher risk return so we don't need to be perfect to have consistent gains.
Hope this help you, please show some support, like, comment, share !
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Market got way stronger than anticipated so I mighty consider another path too:
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Missed the level, it is 13.5k
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We got a massive hit down after hitting exactly the 1/3 fan, market should stay sideways with a bearish bias toward 8.9k where I put a middle of nowhere green flag.
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Our first green flag almost got a hit but 1.618 fib level holds at 9k just one day before the flag
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8.9k got a hit a bit later, so despite so minor error on time, market is going as expected.
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Market got past the gann and didn't react so the gann and almost all this chart got invalidated with regards to value and time targets, but the big circle fib is still valid. I think around 20 July market will move from this range.
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Circle fib still valid as the 12k target on green flag
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We are about to hit the 0.5 circle fib and I expect to pass through it and retest it, which means market can stay on that level some time before resuming to 17k. But if market hit it and retrace more bearish it may go on next leg.
About the time fib, It was not the best setup and failed togethere with the gann, but there is still the retracement fib and circle fib.
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Market hit circle fib a week later than expected, with minor error on value, did minor retrace and breakout the circle, everything on right direction
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After hitting our 12k middle target market got attracted by our gann fan which comes from root or $0 back in 2008. So it must be strong, it got a bit sideways between the gann fan line and our circle which is now resistence. This is a key point, if market breaks down the gann fan we should go at least to 5k, at the same time if it holds our circle fib, will need to break again, the circle, and a lot of time adjustments to the chart will be required. So the gann fan and circle are still valid but timing got wrong. Will wait for one of the two before making any new chart.
Do you think we are still running after 12k+?, if yes when this idea gets invalidated
are you using simple time fib or trendline based one?
are you trading on bitfinex? if so why?
keep up on experimenting
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@aldcann, thanks for comments, time fib is trend ones, I used to chart using bitfinex when once a time it was big on volume. I might change my chart to binance based on that.
Thanks for support.