Learning Time analysis; purely speculative fractal play
THIS IS NOT INVESTMENT/TRADING ADVICE
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Typos: *one-tailed (woops!), *assumption made that this
A possible double bottom appeared instead of the fractals uniform double bottom; with a consequent breakout and current retest. Close of the daily leaves me believing the chart will likely retrace the daily wick, so perhaps the fractal double bottom is still in play. No expectations just curiousity on the relationship of the variables.
Also currently observing an interesting change, break or slow of trend velocity between both of the 15 minute period and the prior 28 candle timeframe.
A possible double bottom appeared instead of the fractals uniform double bottom; with a consequent breakout and current retest. Close of the daily leaves me believing the chart will likely retrace the daily wick, so perhaps the fractal double bottom is still in play. No expectations just curiousity on the relationship of the variables.
Also currently observing an interesting change, break or slow of trend velocity between both of the 15 minute period and the prior 28 candle timeframe.
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Failed to add that there we saw a great bounce play between support at the 38.2, through the 50 and reaching resistance at the 61.8. Then closing the day above and testing the 50.
People who say TA doesn't work, don't spend enough time trying.
People who say TA doesn't work, don't spend enough time trying.
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We saw the aforementioned expected retracement.
Currently sat at a critical area to watch. To see whether we see significant bid support come in, or alternatively breakdown further- breaking the fractal pattern.
This may also provide an indication of whether market sentiment and the trend has potentially changed.
Currently sat at a critical area to watch. To see whether we see significant bid support come in, or alternatively breakdown further- breaking the fractal pattern.
This may also provide an indication of whether market sentiment and the trend has potentially changed.
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Double bottom appears to have been rejected, creating a potential bearish pennant/symmetrical triangle.
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Double bottom play materialised, rejection was only a fakeout.
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1 year update: I did not know how to trade or TA for shit back then lol
woops
woops
-The first being that the correction would display a repeated fractal chart pattern from 5400;
-The second was that the duration taken for the aforementioned pattern to unfold would be similar.
Also tested was an assumption made of this would be a repeat of the % decline.
The second hypothesis and the assumption can be stated as null, with both the duration and scale of the decline being greater than previously.
However, the first hypothesis has displayed significant similarity between the number of legs in each move. Interested to see the following week/monthly close play out.
Note: I haven't had access to SPSS in a while, but looking forward to testing statistical significance through Chi squared and intraclass correlation coefficients in the future.