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781
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Economy / Speculation / Re: PnF TA
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on: October 15, 2015, 06:25:36 AM
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Klee, how are you my friend ?
What is your speculation regarding BTC now ? And what is your sentiment now ?
Probably we will test 275-280. If we go 285+ I see 335-350$.   |
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782
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Economy / Speculation / Re: PnF TA
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on: October 14, 2015, 09:36:12 PM
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Klee, how are you my friend ?
What is your speculation regarding BTC now ? And what is your sentiment now ?
Probably we will test 275-280. If we go 285+ I see 335-350$. |
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783
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Economy / Speculation / Re: PnF TA
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on: October 14, 2015, 09:25:42 PM
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Finally, the 4h RSI was in bear divergence in ALL LTC exchanges, while BTC only in Bitstamp (Chinese were ok).
So this is another bad clue for LTC.
IMHO if BTC breaks 285 on volume probably LTC will collapse (and almost all alts).
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784
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Economy / Speculation / Re: PnF TA
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on: October 14, 2015, 09:22:49 PM
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The LTCUSD is an ascending triangle so normally you would expect a breakout upwards.
But if you check LTC & BTC history you will see they often fail downwards (and the opposite).
Can you trade this? Of course, with tight stoplosses and/or two opposite positions (one short, one long). Though in the 2nd case, the fees are an issue (if it delays to break).
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785
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Economy / Speculation / Re: PnF TA
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on: October 14, 2015, 09:12:13 PM
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Cohen and Dorsey actually made a fortune trading commodities with P&F, get your facts straight man!
Dorsey wrote a book about P&F charts too. Great read if you haven't already  Yes, it was the first P&F book I bought! His company was bought from NASDAQ this year (but of course P&F is useless for Bitcoin). what does the TnA says about ltc right now?
Regarding BTCLTC, better be on BTC but still has support (up to 1/84):  Regarding USD, we have a triangle:  3.15+ moon, 3.05- doom |
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787
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Economy / Speculation / Re: PnF TA
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on: October 14, 2015, 03:37:28 PM
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I am 100% sure you were one of the sheep buying BTC at 239+, right on the whales distribution zone...
Yeah, I bought it at 239 and will sell it now at 250. BTW your predictions suck man, nobody can predict the price of BTC including you! Good for you, it seems that you did predict it though, so basically you are contradicting yourself lol No one can predict the price of BTC or any other commodity, but your predictions are the most reasonable on this thread man! Just don't confuse my speculation with what P&F say (it did not tell you to sell back then and it did tell you to go long safely at 240). I just had to warn people because the chart was saying something - it could have gone really bearish (weren't for Gemini hype) and you know it. We present all the data and it is up to everyone to interpret them - it is very difficult to be emotionless all the time. P&F is very powerful at everything except catching the knife and selling the top (basically it has a very good indicator based solely on P&F - trendline oscillator- but is it very difficult to implement, something like the RSI).* I believe though that with the RSI analysis plus other classical indicators, it is possible to use it with almost 100% success. I am building tools that people have to pay A LOT in order to use (see dorsey wright, updata, stockcharts, bull's eye broker, etc). There are very big & serious Hedge Funds who make a fortune with algorithmic trading I can assure you! Market analytics is very powerful tool whether people like it or not and they work in low volume markets like BTC too. It is much more difficult to do so but possible. Cheers. *EDIT: I forgot Price Objectives - very powerful tool too, even if the price does not meet the target, this fact gives you another indication of momentum (it is bearish not to meet a bullish PO etc.) |
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788
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Economy / Speculation / Re: PnF TA
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on: October 14, 2015, 03:14:16 PM
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I am 100% sure you were one of the sheep buying BTC at 239+, right on the whales distribution zone...
Yeah, I bought it at 239 and will sell it now at 250. BTW your predictions suck man, nobody can predict the price of BTC including you! Good for you, it seems that you did predict it though, so basically you are contradicting yourself lol |
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790
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Economy / Speculation / Re: PnF TA
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on: October 14, 2015, 12:43:29 PM
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I never understood how to read those graphs... What do they mean, and how can you tell if something has "bottomed out" and can only go up from there? Ok, so we have the 1D RSI indicator of XMR in Point & Figure format. RSI gives us an estimation that the market is oversold/overbought ( =<30 and >=70 respectively). If you go at https://bitcoinwisdom.com/markets/poloniex/xmrbtc try to find the RSI at Settings -> Indicator. IMO, for alt coins the two timeframes that make sense (especially in XMR's case) are the 1d & 3d. So configure accordingly the chart. So we see there that we have broken the 30 level for good and the price bounced above it briefly (1D) and now is standing almost on top of it. If we manage to continue rising towards the 50 level it means that we bottomed. Enter P&F. The difference in the P&F RSI format is that we see more clearly that the RSI made a double bottom at 29 and broke out at 36 (at least when I drew the chart, afterwards it went back to 34). That is a bullish signal, meaning that the RSI 'price' managed to overcome resistance and it showed rising momentum. This combined with the fact that below 30 the market is considered oversold, are IMHO bullish signs. As for the XMR P&F chart (1d CLOSE, log scale, 1% box size, reversal 3): IGNORE the chart We reversed from 0.00154911 at 0.00161201.
Support is 0.00156460-0.00158025, sell signal if we close below 0.00154911 (0.00153377).
Bearish resistance at 0.00174558-0.00176303, 0.00215123-0.00217274.
Watch out for the double top at 0.00221642 (strong resistance).
Heavy resistance between 0.00226097-0.00235277, free at 0.00237630 (provided that we will continue in the same X column).
EDIT: Forgot to mention that the buy signal is at 0.00179847Correct chart:  Breakout if we close daily above 0.00161201 |
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791
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation
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on: October 14, 2015, 12:42:22 PM
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I never understood how to read those graphs... What do they mean, and how can you tell if something has "bottomed out" and can only go up from there? Ok, so we have the 1D RSI indicator of XMR in Point & Figure format. RSI gives us an estimation that the market is oversold/overbought ( =<30 and >=70 respectively). If you go at https://bitcoinwisdom.com/markets/poloniex/xmrbtc try to find the RSI at Settings -> Indicator. IMO, for alt coins the two timeframes that make sense (especially in XMR's case) are the 1d & 3d. So configure accordingly the chart. So we see there that we have broken the 30 level for good and the price bounced above it briefly (1D) and now is standing almost on top of it. If we manage to continue rising towards the 50 level it means that we bottomed. Enter P&F. The difference in the P&F RSI format is that we see more clearly that the RSI made a double bottom at 29 and broke out at 36 (at least when I drew the chart, afterwards it went back to 34). That is a bullish signal, meaning that the RSI 'price' managed to overcome resistance and it showed rising momentum. This combined with the fact that below 30 the market is considered oversold, are IMHO bullish signs. As for the XMR P&F chart (1d CLOSE, log scale, 1% box size, reversal 3): IGNORE the chartWe reversed from 0.00154911 at 0.00161201.
Support is 0.00156460-0.00158025, sell signal if we close below 0.00154911 (0.00153377).
Bearish resistance at 0.00174558-0.00176303, 0.00215123-0.00217274.
Watch out for the double top at 0.00221642 (strong resistance).
Heavy resistance between 0.00226097-0.00235277, free at 0.00237630 (provided that we will continue in the same X column).
EDIT: Forgot to mention that the buy signal is at 0.00179847Correct chart: Breakout if we close daily above 0.00161201 |
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792
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Economy / Speculation / Re: PnF TA
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on: October 14, 2015, 12:20:10 PM
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Guys apologies for the mess but it seems that either my data fetch engine or Polo API is buggy! This is the correct RSI chart (actually it was the reason I found the bug):  Fortunately this chart is also bullish!  Again apologies for the inconvenience... |
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794
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation
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on: October 14, 2015, 09:00:06 AM
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Thank you for this explanation, but still dont understand anything. Could you ELI5?
Sure! What is the part you don't understand, how RSI works, how P&F or both? Did you read dEBRUYNE's link on P&F? http://www.investopedia.com/articles/technical/03/081303.aspFor RSI: http://www.investopedia.com/terms/r/rsi.aspSo long story short, RSI alone gave an indication in 1d zoom that we are probably oversold. So how to find more clues? Enter P&F. RSI's chart can be converted to P&F format (I did it) where we can see more clearly the momentum (this is the power of P&F charts). When an X column exceeds the previous one (the same applies for O columns) we have 'positive' momentum! So in the chart I made we see this happening. In addition we double bottomed (2 successive O columns in the same price) before the X breakout and below the 30 price, which gave us more power to the jump upwards. Can't explain it better, I hope someone else can help if you still have questions. Later I will update the chart with the new data from yesterday's close price... Thx. I will check the link. But, just shortly, wanted to know whatever the graphs show is good or bad for the monero? Good! Actually, I think only XMR & XRP will be bullish short term (and maybe BTS). |
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795
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation
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on: October 14, 2015, 06:24:00 AM
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Thank you for this explanation, but still dont understand anything. Could you ELI5?
Sure! What is the part you don't understand, how RSI works, how P&F or both? Did you read dEBRUYNE's link on P&F? http://www.investopedia.com/articles/technical/03/081303.aspFor RSI: http://www.investopedia.com/terms/r/rsi.aspSo long story short, RSI alone gave an indication in 1d zoom that we are probably oversold. So how to find more clues? Enter P&F. RSI's chart can be converted to P&F format (I did it) where we can see more clearly the momentum (this is the power of P&F charts). When an X column exceeds the previous one (the same applies for O columns) we have 'positive' momentum! So in the chart I made we see this happening. In addition we double bottomed (2 successive O columns in the same price) before the X breakout and below the 30 price, which gave us more power to the jump upwards. Can't explain it better, I hope someone else can help if you still have questions. Later I will update the chart with the new data from yesterday's close price... |
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798
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Economy / Speculation / Re: PnF TA
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on: October 13, 2015, 09:16:11 PM
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I never understood how to read those graphs... What do they mean, and how can you tell if something has "bottomed out" and can only go up from there? Ok, so we have the 1D RSI indicator of XMR in Point & Figure format. RSI gives us an estimation that the market is oversold/overbought ( =<30 and >=70 respectively). If you go at https://bitcoinwisdom.com/markets/poloniex/xmrbtc try to find the RSI at Settings -> Indicator. IMO, for alt coins the two timeframes that make sense (especially in XMR's case) are the 1d & 3d. So configure accordingly the chart. So we see there that we have broken the 30 level for good and the price bounced above it briefly (1D) and now is standing almost on top of it. If we manage to continue rising towards the 50 level it means that we bottomed. Enter P&F. The difference in the P&F RSI format is that we see more clearly that the RSI made a double bottom at 29 and broke out at 36 (at least when I drew the chart, afterwards it went back to 34). That is a bullish signal, meaning that the RSI 'price' managed to overcome resistance and it showed rising momentum. This combined with the fact that below 30 the market is considered oversold, are IMHO bullish signs. As for the XMR P&F chart (1d CLOSE, log scale, 3% box size, reversal 3):  We reversed from 0.00154911 at 0.00161201. Support is 0.00156460-0.00158025, sell signal if we close below 0.00154911 (0.00153377). Bearish resistance at 0.00174558-0.00176303, 0.00215123-0.00217274. Watch out for the double top at 0.00221642 (strong resistance). Heavy resistance between 0.00226097-0.00235277, free at 0.00237630 (provided that we will continue in the same X column). EDIT: Forgot to mention that the buy signal is at 0.00179847 |
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799
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Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation
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on: October 13, 2015, 09:06:49 PM
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I never understood how to read those graphs... What do they mean, and how can you tell if something has "bottomed out" and can only go up from there? Ok, so we have the 1D RSI indicator of XMR in Point & Figure format. RSI gives us an estimation that the market is oversold/overbought ( =<30 and >=70 respectively). If you go at https://bitcoinwisdom.com/markets/poloniex/xmrbtc try to find the RSI at Settings -> Indicator. IMO, for alt coins the two timeframes that make sense (especially in XMR's case) are the 1d & 3d. So configure accordingly the chart. So we see there that we have broken the 30 level for good and the price bounced above it briefly (1D) and now is standing almost on top of it. If we manage to continue rising towards the 50 level it means that we bottomed. Enter P&F. The difference in the P&F RSI format is that we see more clearly that the RSI made a double bottom at 29 and broke out at 36 (at least when I drew the chart, afterwards it went back to 34). That is a bullish signal, meaning that the RSI 'price' managed to overcome resistance and it showed rising momentum. This combined with the fact that below 30 the market is considered oversold, are IMHO bullish signs. As for the XMR P&F chart (1d CLOSE, log scale, 3% box size, reversal 3): IGNORE the chartWe reversed from 0.00154911 at 0.00161201.
Support is 0.00156460-0.00158025, sell signal if we close below 0.00154911 (0.00153377).
Bearish resistance at 0.00174558-0.00176303, 0.00215123-0.00217274.
Watch out for the double top at 0.00221642 (strong resistance).
Heavy resistance between 0.00226097-0.00235277, free at 0.00237630 (provided that we will continue in the same X column).
EDIT: Forgot to mention that the buy signal is at 0.00179847 |
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