The pattern seems to repeat itself. However its not able to generate volume as where the price was low. So I do not expect same kind of price spikes yet there will be movement. As always just a thought, not an advice.
What I personally think what most people do wrong is not factoring in the trend. Fractural's or reoccurring patterns should be factored in with the same trend. My understanding is we are in a down trend (using fib.pitchfork) .
Behzadin
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@ssari, I agree with you 100%. The thing is we are at the top of the channel, which creates a chance of a probable breakout of the trend. However a breakout is not confirmed until it breaks out =) People should not enter a position without it being confirmed. Which lead me to post this:
ssari
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@Behzadin, If you look at my chart, the fib.pitchfork demonstrates we are in the upper quadrant of the channel. The longer it goes sideways, the more likelihood we approach the 100% of the channel and change trend. Similarly the longer it goes, the 20 Daily EMA creaps up. At this point, we have a bullish wedge taking place and my guess is between 9800 and 10150, we will have a break up to the upside and retest the upper part of the channel. Your diagram represents the same diagnosis.