To which rules does the above triangle not conform? Do you happen to know any articles which describe how to draw proper triangles, and to what rules they should conform? Thanks! Technical analysis has been a great learning experience so far  |
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How did you know it wasn't a triangle formation?
Because it developed into a correction? Yeah, but that was after the fact. I am wondering whether he knew it wasn't a correct triangle before it was invalidated by the push down. And whether he knew this short-term correction was coming. |
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But that's old news - what about the today's triangle?
it was not a right triangle, and it turned out to develop into a flat correction. 5.8 - 6 $ is good supportHow did you know it wasn't a triangle formation? I find it really hard to judge whether a price formation is forming a triangle or not. Obviously with some lines, it was quite easy to draw an ascending triangle, but why did you know it wasn't a correct one? I'm curious how you judge whether something is a triangle or not. Did you see this short-term correction coming? Thanks! |
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What? The more posts this topic gets, the more confused I become...  |
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is this situation is awesome to steal allot of money? the money is frozen is just needed to be taken, true ? just making stupid questions hehe  Thanks for the heads up! That was the easiest 25 bitcoins I ever made What? Please explain? Did you use "frozen" as a seed to create a private key? Only thing I could come up with how there could be money hidden in his post :p |
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It isn't updating properly. I am using Sierra Chart with SierraChartFeed and I'm getting a different current price than they are. Mtgox.com is also showing a different price than Mtgoxlive (Same price as I'm getting in Sierra Chart, so I believe that one is correct)
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If you have a suggestion for an interesting topic
Yes  Ascending triangles are usually a Bullish formation. Expect the breakout to be to the upside.  |
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it doesn't look like it will take that long.
Yeah, 1 day max, probably even less. We'll see =) |
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why are people ignoring this? Because it is joke "Original Air Date: 15 January 2012" without downloadable .torrent as a proof The 15th of January is in the future, of course there isn't a downloadable .torrent yet... We just need to be patient. It could be huge. |
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How the hell do yall sleep?
I definitely can't with this position open right now, tempted to liquidate and make a $5 profit, at the same time, I want to stay up and see if its goes up...
1) Use stop orders if you want to protect your position against unexpected movements. 2) Don't lose your sleep over a few bucks. Believe me, it isn't worth it |
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This post assumes your maintenance margin requirement is 4% or 25:1, which is applicable for typical Bitcoinica users.
Is it possible to get a different margin requirement? |
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Here's some more from S3052's Jan 1 report:
“We keep our view intact that there is a good probability that bitcoin prices will at least correct the down move
from June 2011 to Fibonacci retracements of 13.5 $ (38.2%), 17 $ (50%), or 20.6 $ (61.8%). Most typical in
corrective waves are the 50% and 61.8% retracements. This means that even if bitcoin prices were to fall again in
2012, the current rally can lead to 17 – 20 $!”
Sorry for my ignorance, but can anyone decipher this for me? I find it fascinating but don't really understand it. The down move from June 2011 is the overall fall from $32 to $2. "Correcting the down move" means it retraces from $2 back up towards $32. But it only retraces partially - hence "corrective wave" of a certain percentage of that $32->$2 fall. The good news is, this rally is looking more like an impulse wave than a corrective wave. Meaning it should exceed the old highs. their is no chance in hell its going down, even if it dose... its going to be short lived Of course it will be short lived. That's fine if you're just holding BTC. But when you're on margin on Bitcoinica, short-lived downspikes are how you get zhoutonged. That's what I'm trying to warn people of. If you want to survive a downspike you had better be prepared. Here's some more S3052. This was in a short-term alert he sent Jan 3. [I hope he doesn't mind that I'm sharing these excerpts, but people were asking for sources.] "Recall, second waves can (but do not have to) retrace up to 99.9% of the wave 1 (but never more than 100%). Common retracements are the Fibonacci levels. Given the fact that we seem to be in a cycle wave III up, this minor second wave may not go all the way down to the 62% level. Another very common stopping point of second waves is the previous fourth wave (apex of the triangle, currently at 4.2 $). One very short term trading scenario may be to sell above 5 $ with the intent to buy back at 4.2 $ or at 3.3 $ (if prices go that deep)." From S3052's sample weekly report, downloaded here: http://www.bitcoinbullbear.com/uploads/8/5/8/7/8587609/bitcoinweeklyupdate20110602.pdfThis is probably still true today, you should remove the quotes from his report IMO. Just warning ya ^^ |
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sold one at .35 and my position now is lower i am at $6.2841 $6.2927
Yup, instead of giving you your profits, it actually lowers your baseprice as you partially close your position. Once you completely close it, you will receive your profit. But why close it now though? Should have kept it! We're currently on our way UP |
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Both in the green now, am I right? |
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Well, I can tell you both one thing. You're currently losing money.
They both just opened their positions. Of course they will have a small loss due to spreads :p |
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I'm going to CES for a day next week.
I understand Roger Ver (MemoryDealers) is going to be there selling physical bitcoins for cash. Since I had to drop $600 a night just to get a hotel room there - nothing on the LV strip decent available for under $400 - it's not like people there are going to be poor, nor few in numbers, nor (it being CES) will they be techno noobs.
I anticipate bringing tons of them to keep them stocked up just in case. I will probably bring several dozen 1000 BTC bars, and numerous 25 and 100 BTC items. Who knows what'll sell, but everything that sells is going to see an offsetting transaction on MtGox.
You're going to wait to fill the bars and coins until they are sold, I presume? And you don't have that much BTC, so you'll buy BTC for each one that sells? EDIT: Just bought back in with the proceeds from my last month and a half of mining that I had been selling. Sucks to effectively get half of the Bitcoins I sold, but I am very bearish at the moment. We'll see... I have 50k of mtgox USD locked and loaded, not on the order book anywhere, so I can dispense BTC without worrying about my personal BTC. Quick! You can still catch the rally with your 50k |
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when we get the party started  It usually starts right after I go to bed. Maybe I should go take a nap so we can finally get the party started  I was that guy last time. Every time I woke up the price had doubled. Please go and sleep |
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has anyone used the trailing stop?
i just bought 100btc at 6,3683 with a trailing at 6.
The price is now at 6,3642 but my trailing has been increasing and is now at 6,17 and I cancelled it.
Did the spread get smaller? or have i missed something ? this was in the space of 12 minutes
Spreads got smaller and the price was moving up, moving the trailing stop up as well |
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Thanks - here is the corrected link:  Help a guy who's learning tech analysis (albeit slowly) -- This means the downtrend was broken and further upside is possible? It's not really a trend, because it's over such a small timescale. It's the current resistance preventing the price from rising. Usually once you pass the resistance, the price quickly rises to the next resistance level, which is usually quite a bit higher, thus creating spikes. It works the same way in reverse when support gets broken. Edit: I'm a complete beginner when it comes to technical analysis as well :p Just find it interesting, just like you, and this is how I understand it roughly works. Please someone correct me if I'm wrong ^^ |
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 PROUDHON WENT LONG! BUY BUY BUY!!! |
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