We have multiple points along the horizontal line that points to a sell. We have a sell signal initiated with a close below this line. Also, we have a down fractal potential with decent risk/reward.
Komen
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bulls stilll been in aud. waiting for target to be reached.
@oakman, I recognize the fractals from supply and demand. How did you get your strategy from a fractal point of view - any suggested reading - and nice chart
oakman
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@kate25, Thank you. I think a place to start would be reading about fractals in nature. I use to read about some of Dr. Mandelbrot's work.Try to begin to see the fractals in the world around you and then apply that to the charts. I try to think of fractals as like a field of sunflowers. They are all fractals in that each one is 100% a sunflower but the flip side of the coin is that each one is different. That would be considered the chaos part. Order and chaos are in every chart. Spotting the order is the hard part. The more you practice seeing them in the charts the easier you will spot them and then form a plan to take advantage when the market offers some order instead of chaos.
kate25
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@oakman, would you say that swing trading is with in the fractals
oakman
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@kate25, I believe you can swing trade using a fractal method but using the lower time frames would be harder in my opinion.