$5500 possible based on repeating fractal

5 Tem 2018

No trade zone for now but I think we might drop a fair bit to $5500.

8 Tem 2018

Not

So it's still mostly sideways and a bit up. High risk trading area right now. If $6850 breaks we could go all the way to $7050 to test the end of May low.

However there are some similarities in price action to previous areas. Yellow regions are similar and we could fall after a bit more sideways. Also, if you ignore the Bart in blue, the entire price action for the last 3 weeks looks very similar to the previous area. So there could be a massive bull trap being set up again.

10 Tem 2018

Not

So the drop has begun. Broke through a few major supports this morning and is now trading below. We're in the orange region now. The last two times when in a similar position we dropped a long way and made a new low. So potential breaking of $5800 on the cards.

12 Tem 2018

Not

Spotted something interesting.

Was looking at the bigger picture this morning and there seems to be something important about this trendline. For almost 4 months it has been support and resistance very often. Most of the time, if we go below it becomes resistance and if we go above it becomes support. Maybe a coincidence but the price seems to be attracted to it.



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