Fractal
13-Oct-24Price has lingered at this level without a correction to establish support. I think we will fall straight back to 60K, before breaking through and bouncing back.
The narrative goes like this:
1. Low liquidity market trending sideways at a big even
2. Price breaks to lower low, providing whales with the liquidity they need to buy in
3. Whales buying below the LL cause a short squeeze to the top of the range without breaking out.
4. (You are here) Price is now over extended at the top of the range, and the bullish rejection has left a lot of confident stop losses below the low.
5. (Maybe) Price rapidly falls back to the demand zone, with only a small bounce before squeezing longs by breaking to lower lows.
6. (Extra maybe) Now the market has cleared out the weak hands from the range, so only the low leverage positions remain. This allows the market to lower it's volatility and establish it's longer term trend, which I think will be bullish.
BULLISH DIVERGENCE + WEEKLY HEIKIN ASHI S/RHeikin Ashi weekly S/R levels are determined by red bars with no wick after an uptrend.
Those levels coincide EXACTLY with all the retracement Fibonnaci levels from current swing from the latest high. To me this is a signal that don't go lower.
Note as well the bullish divergence that already started a bullish rally previously.
Close to the recovery!
DOGS price is preparing for growth?The white candlesticks on SEED_ALEXDRAYM_SHORTINTEREST1:DOGS price chart depict the previous fractal movement of the #NOTUSDT price.
For OKX:DOGSUSDT price to repeat this path, it needs to break through the trend line and gain a foothold above $0.00075 in the coming days.
If this condition is met, then the purchase zone of $0.00075 - $0.00081 will be available for several days before the real pump begins.
Follow the development of this idea so as not to miss the chance.
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USDJPY 10/11/24💡
Outlook: USDJPY is showed a very good impulse correction on the 5hr time frame. We now scale down to the 30m time frame and I want to see price make a impulse above the 10/20emas to show conviction and then a correction so that then I can scale down to the 5m time frame.
Bias: Bullish but needs to show conviction on the 30m time frame.
XAUUSD 10/11/24💡
Outlook: Gold is looking really good on the 5hr time frame, I wanna see price correct into the 10 and 20emas for me to scale down to my 30m time frame and look for an impulse correction. Maybe we get that in NY session before closing the week!
Bias: Bullish but needs to correct on the 5hr time frame!
USDCAD 1:7 RR trade idea The dollar index almost hit a 2 year low but the price reversed only half a percent higher from the said level. After CPI news, the dollar ended its bullish streak, after touching the highs of 2020. For that reason the USDCAD, which has just finished its second bullish leg by the Elliot Wave theory(6 bullish days in a row). Currently looking for a second correction, to what quarterly VWAP high indicates. Looking for a 7% short trade setup(1% risk) targeting 1.365(Quarterly VWAP + 0.382 retarcement) for 100 pips.
This analysis is taught and provided by Fractals Trading Community.
Trade safely and expect the unexpected,
Mei
CRUDE OIL SHOWING STRENGTH EXPANDING TRIANGLE CORRECTIONSCrude Oil corrections!
N.B!
- USOIL price might not follow drawn lines . Actual price movement may likely differ from the forecast.
- Let emotions and sentiments work for you
- ALWAYS Use Proper Risk Management In Your Trades
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#wti
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