In this simulated project: pivot points, rebounds, or bounces are expected where the price meets the shapes. The icons are potential price predictions or time stamps for potential exceptional events. Blue curved path can become support or resistance. If the price goes down where there are no drawings, a potential entry signal might appear before that at any of the elements in the drawing. Rectangles are potential turnaround points.
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Pivot point at the long vertical white rectangle.
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A small first bounce at the first orange rectangle. Confirmation is needed for a potential pivot point.
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Pivot point at the orange rectangle confirmed.
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Continuation of the bulls after the pivot point at the orange rectangle. In the previous comment a potential resistance level was marked with the red line. There was a bounce/rebound from it, but this level could be retested.
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The red marked resistance level was finally broken right after the time stamp of the red circle. The turnaround at the orange rectangle was a really good one.
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Candlestick shadow right at the blue curve. Not sure if this is a potential pivot point. Could be just a temporary rebound.
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Pivot point confirmed with that bounce from the blue curve.
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Price squeezed between the blue arc and the orange rectangle above which there was a another minor pivot point. Not sure if any more pivot points should be expected in this project, but I am looking forward to see where it lands at the end of the blue arc which is also marked with the shut down button time stamp.
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Another "close" pivot point, this time at the red marked price level. After drop, price found a little bit of support at the blue curve.
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Pivot point confirmed at the blue curved, this one marked with yellow arrow as it has actually touched the shape.
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Another candlestick shadow right at the blue curve but this time I don't know if the bulls are ready for another push. It is possible that we are already in a correction structure, after that bull wave that started at the orange rectangle, just as the blue curve is suggesting for the path of the price. Time will tell. Orange rectangles alignment were pointing up, now we are under the line created by the green rectangles which are pointing down in the passage of time. There is still time and room for one of the Icons to be hit (these are usually potential price predictions or time stamps for exceptional events) but this might end a little bit more surprising than I expect.
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This green candle in this position with the shadow at the blue curve would look much better for a potential pivot point. Still not convinced of the bullish momentum though, as mentioned in the previous comment regarding a potential corrective structure along the blue curve.
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The blue support has been broken, leaving the bears in charge. We are now currently under the green rectangles pointing down, any other potential pivot point could happen at the time stamp of the red man, at the marked price level 92.333 or at the ellipse. Retest of the blue curve is still possible.
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Connecting the dots from the initial snapshot the last potential move looks a little to bold to become reality, especially with that green rectangle in the way.
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The red man icon as a price prediction is almost a hit at this point regardless of the price action in the next bars on the chart, considering the grand context of this matrix with the beginning, the path, the bounces and turnarounds, and the current position as a destination.
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Perfect Hit on the Red Man!
Initial idea quote: "The icons are potential price predictions or time stamps for potential exceptional events."
Initial idea quote: "The icons are potential price predictions or time stamps for potential exceptional events."
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After the hit on the yellow man icon, the red marked price level has been acting as a support. Let's see if this holds. Ellipse coming up next.
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Bulls got back in it for a while. 2 candlestick shadows at the ellipse. Let's see if this one holds as well. Time stamp of the shut down button coming up soon.
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Back at the blue curve
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After being broken the blue curve became support with a retest. The price has reached the green rectangle and found some resistance there with a candlestick shadow (candle not closed yet). This resistance might push/keep the price towards the "end" of the blue curve, where the time stamp of the shut down button icon is.
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Potential support at the ellipse again.
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Strong resistance at the blue curve with a decent rebound.
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At the time stamp of the shut down button the price broken into the ellipse. Now at its lower edge with a potential hammer on the 4h time frame. One last pivot point before the end?
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Looks like a hit on the W.
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A good retest and a continuation from the marked price level to finish this project off.
