A few days ago I did a complete analysis using detailed moving averages patterns (You can see on related ideas), however without using the MA200.
Given some requests I am doing this new analysis, also based in moving averages and now also fractals, however with a slightly different approach.
One of the principles of is “History repeats itself” and it is based on this concept that this chart was drawn up.
In the Yellow, white, pink and blue boxes we can see some similarities, obviously the movements are not 100% the same but somehow the price followed very similar tendencies with relations also very similar on the price vs moving averages!
In the green part of the chart I made a forecast using the price movements in the previous market cycle and stipulated an approximate date (Oct’19) for the price to exceed 100MA starting the last consolidation before a new bull run.
On related IDEAS below you can see other ideas based on fractals that indicate that we have already found the bottom before the next cycle, or that we are very close to that!
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Thank you very much for your attention.
God Bless!
Published at Mon, 04 Mar 2019 22:45:57 +0000