What does this mean?

Discussion in 'Forex Education' started by tombl0ck, Jan 3, 2013.

  1. tombl0ck

    tombl0ck Trader

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    Hello!
    I am new to forex and trading and general.
    Now I am studying from a book and I have reached the section about fractals..
    It gives me charts so I can train myself in recognizing them..now in current example it said "pay particular attention to those fractals that are hit."
    Can someone please tell me what "hit" means when referred to fractals?
    Thanks.
     
  2. Easy Trader

    Easy Trader Master Trader

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    Attached Files:

  3. Raleigh Lee

    Raleigh Lee Trader

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    Can you give us a reference - the book's name, etc?
     
  4. A screenshot or reference point would help to give you an explination. As it is, there is little info to go on :)
     
  5. tombl0ck

    tombl0ck Trader

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    Thank you for your replies)
    I think I got your explanation Easy Trader. In the worst case scenario i'll re-ask here again)
     
    Last edited: Jan 11, 2013
  6. capsmart

    capsmart Active Trader

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    Hi Tom
    The term fractal is somehow misused in forex. I could give two different explanations. First as easy trader says is a point of support/resistance. An indicator will point a bar as a fractal if the previous 2 bars (or more) and the next two bars (or more) have lower highs (in case of a resistance) or higher lows in case of support. Just like easy trader's chart.
    Another aspect of fractal is the chart formations. If you see a chart without the axes your are unable to say if it is a 1 min or 1 month chart. The patterns repeat themselves on all time frames.
     
  7. Easy Trader

    Easy Trader Master Trader

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    Capsmart is right, fractal is just the name of the indicator which marks highest highs or lowest lows based on filtered options. The study of fractalization is when a 'thing' can been observed on infinite levels and
    always produce the same pattern or plan. My avatar is named the divine fractal:) , but I would be suprised if the book your reading meant that, if
    it did I would enjoy reading it:D
     
  8. tombl0ck

    tombl0ck Trader

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    in the book the fractal is discribed as a reversal pattern which happens as a result of new information,also it sais "The underlying structure of the market is the Elliot's Wave, and the underlying structure of an Elliot's Wave is a fractal".
     
    Last edited: Jan 6, 2013
  9. Ary Barroso

    Ary Barroso Active Trader

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    Please don’t be so serious about this trading indicator; it’s not much useful as like moving average; most of the time, it produces wrong signals! This is why, I have already removed this indicator in my live chart after using for 2 months.
     

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