Fractals
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Many traders believe that although prices may appear to be random, they do in fact follow a pattern in the form of trends. One of the most basic ways in which traders can determine such trends is through the use of fractals. Fractals essentially break down larger trends into extremely simple and predictable reversal patterns. Fractals (developed by Bill William) are indicators on candlestick charts that identify reversal points in the market. Traders often use fractals to get an idea about the direction in which the price will develop. A fractal will form when a particular price pattern happens on the chart. The pattern itself comprises five candles and the pattern indicates where the price has struggled to go higher, in which case an up fractal appears or lower, in which case a down fractal appears. An UP fractal formed when a candle has two candles to the right of it with two lower highs and at least two candles to the left of it with two further lower highs. This signifies a bearish turning point. ...
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