XTZBTC Fractal| .618 Fibonacci| Trend Line| Volume Profile
Evening Traders,
Today’s Analysis – XTZBTC – a highly probable fractal at play, the .618 Fibonacci coinciding with the overall trend line perfectly.
Points to consider,
- Trend Bullish
- Impulse move from .618 Fibonacci
- RSI neutral
- Stochastics in upper regions
- Similar volume profile
XTZ’s trend is bullish with consecutive established higher highs, respecting the trend line to a T.
The .618 Fibonacci has held true twice with confluence from the trend line, leading to two impulse moves.
RSI is currently neutral, similar to the previous test of the trend; this goes the same with the stochastics, trading in the upper regions (momentum is up).
The volume profile looks similar in shape, a declining and tapering off as price magnets to the trend line.
Overall, in my opinion, this is a highly probable fractal at play with a retest of the trend line being the confirmation. It is an easy manageable trade where invalidation will come quickly, that is when the trend line breaks.
What are your thoughts?
Please leave a like and comment,
And remember,
“People who look for easy money invariable pay for the privilege of proving conclusively that it cannot be found on this earth.” - Jesse Livermore
Today’s Analysis – XTZBTC – a highly probable fractal at play, the .618 Fibonacci coinciding with the overall trend line perfectly.
Points to consider,
- Trend Bullish
- Impulse move from .618 Fibonacci
- RSI neutral
- Stochastics in upper regions
- Similar volume profile
XTZ’s trend is bullish with consecutive established higher highs, respecting the trend line to a T.
The .618 Fibonacci has held true twice with confluence from the trend line, leading to two impulse moves.
RSI is currently neutral, similar to the previous test of the trend; this goes the same with the stochastics, trading in the upper regions (momentum is up).
The volume profile looks similar in shape, a declining and tapering off as price magnets to the trend line.
Overall, in my opinion, this is a highly probable fractal at play with a retest of the trend line being the confirmation. It is an easy manageable trade where invalidation will come quickly, that is when the trend line breaks.
What are your thoughts?
Please leave a like and comment,
And remember,
“People who look for easy money invariable pay for the privilege of proving conclusively that it cannot be found on this earth.” - Jesse Livermore
Join my free telegram! t.me/chartdoctorsanconsultants
Follow me on Twitter! twitter.com/pinkdawn__
Follow me on Twitter! twitter.com/pinkdawn__
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.