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Here is my updated analysis on the bullish fractal I have been calling for the last few days. My first attempt was pretty close and was based on very little information, I then had a bit of analysis paralysis and updated it twice before reverting back to the original. I have now decided to update again based on taking some time away from the computer and having a...
So it turns out my original analysis before I changed it, was actually pretty spot on. Looking for a bottom of about 9150ish followed by a strong bounce. Will be laddering longs from 9200-9000 in intervals, with a stop below 8900 (if we go below this then the idea is invalidated). If the pattern plays out it will have a great ROE as the expected target for the...
As per my previous 2 analysis, I first gave a very early indication of a potential bullish structure forming; and then a subsequent update. Well this is the third instalment based on the latest data.
Per the last analysis I said we were looking for a pull back up to close to the green dotted line (between 9550 where we were currently are at and 9850 at the...
As per my previous analysis, I gave a very early indication of a potential bullish structure forming. This geometric fractal is one that I trade every time I see it, and it generally plays out nicely as it opens up mutliple short/long trades and when combined with stops, provides a pretty profitable set up even on the odd occasion it fails.
Now that we have more...
As per previous analysis; target for short was met. Switched back to longs from 10,550 to 11,850. My average entry 10,587. Started this new analysis as I have modified the previous one slightly. Will now only continue to update this one.
Previous fractal failed. Short to 10,500 then swap to longs.
Approximate path 10,500 > 11,800 > 11,200 > 12,500 then down.
Marked as short for the first leg down. Will then re-do if this plays out.
My average entry for short = 11,377.
As per my other current analysis; based on the structure of the geometric fractal and other indicators - I have adjusted accordingly based on the latest information. Ultimately the end goal is the same, but the path to get there is slightly different. I think we will now find resistance around the orange line and retrace to retest the pink support line. If you are...
As per my previous analysis we had a good stab at reaching a double top reaching into the low 13K's however we didn't quite pull off the top around 13,750-13,800 that I was hoping for. Luckily for us we are now printing a new fractal that looks like it could finally get us to our target. Long from 11,150ish on the second touch of the pink support line. Target is...
Bias is towards Bearish based of Mid Term 4 hour Trend.
4 hour chart:
Bearish crossover of Fisher Transform.
Recent Parabolic Sar flip to bearish.
Bearish crossover of Aroon Up/Down.
.382 Fib flipped support to resistance.
Bearish cross over of MACD.
Bearish DMI cross over.
5,8,13,21 FIB level EMA right above us adding strength to the .382...
Diamond Top - Usually a reversal pattern and fits in with my main view of a move down. Being cautious here though as there are fractals from 2013 and 2017 that suggest this could blow upwards. Given the overall bullish sentiment I can see us hitting above $16K. Currently have an open long from $12K and hedging with a $12.4K Short.