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Author Topic: PnF TA  (Read 190384 times)
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klee
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July 12, 2015, 04:38:48 AM
 #181





LTC support 4 - 4.25$
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klee
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July 12, 2015, 04:44:11 AM
Last edit: July 12, 2015, 04:56:40 AM by klee
 #182

NASDAQ president Adena Friedman:

https://www.linkedin.com/pulse/state-finance-digital-revolution-transforming-world-money-friedman

"Over the past 10 years, we have seen the emergence of very advanced Smart Beta Index ETFs —among them, Nasdaq’s own Dorsey Wright Focus Five Indexes. Dorsey Wright uses a relative-strength methodology, comparing a stock’s performance with that of the market as a whole; the inputs are created by humans, but the outputs determining the stocks that comprise the index are entirely computer-driven. With more than $8 billion in assets under management across the Dorsey Wright index ETFs, $45 billion across all of Nasdaq’s Smart Beta Indexes, and $365 billion overall across all U.S.-listed Smart Beta ETFs, the electronic investing methodology is clearly resonating with investors."

You know who Dorsey Wright is? This guy:
http://www.amazon.com/gp/product/B00E2QW6VO

http://dorseywright.com/

PnF does not work...
klee
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July 13, 2015, 04:22:55 AM
 #183

Sold at 310 - time to check TPTB's theory  Cool

(Though I would sell there anyway, 320 is an important resistance)
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July 13, 2015, 07:31:23 AM
 #184

First line of defence (292$) is holding for the moment:

klee
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July 13, 2015, 07:45:29 AM
 #185

Broken!

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July 13, 2015, 12:48:25 PM
 #186

Sold at 310 - time to check TPTB's theory  Cool

(Though I would sell there anyway, 320 is an important resistance)

Missed emotions on his theory

1) In October $150 sounds low - we will be closer to having 14.75M Bitcoins minted where I think a lot of the glut will be removed prior to halving
2) IF Greece gets funds available I instantly would buy 1-5% of my net worth just incase again
3) I agree I expect to see a housing market correction especially in US but I also think there is places in the US that is headed (already in recession) and I am in one of them - and the industries they provided helped out since 2008.

**I am not a trader - just a buyer and HODLer **

I do agree with TPTB - Cash is still King right now

Trade well my friend
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July 13, 2015, 12:56:11 PM
 #187

Sold at 310 - time to check TPTB's theory  Cool

(Though I would sell there anyway, 320 is an important resistance)

Missed emotions on his theory

1) In October $150 sounds low - we will be closer to having 14.75M Bitcoins minted where I think a lot of the glut will be removed prior to halving
2) IF Greece gets funds available I instantly would buy 1-5% of my net worth just incase again
3) I agree I expect to see a housing market correction especially in US but I also think there is places in the US that is headed (already in recession) and I am in one of them - and the industries they provided helped out since 2008.

**I am not a trader - just a buyer and HODLer **

I do agree with TPTB - Cash is still King right now

Trade well my friend

TPTB theory seems quite legit. 150 possible, but unlikely. bitcoin is different and as far as i know, armstrong didn't make a prediction explicitly mentioning bitcoin. did he?

Always wrong until not.
klee
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July 13, 2015, 03:08:40 PM
 #188

Under normal circumstances, worst case scenario IMO is 235-236$, 240$ should be a solid closing day price.

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July 13, 2015, 03:10:32 PM
 #189

https://www.tradingview.com/chart/BTCUSD/ka2aVZR3-Finally-a-Bitcoin-Pullback-We-Were-Due/
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July 13, 2015, 05:49:41 PM
 #190

If we hold this double bottom it will be bullish. Resistance 308-312. Reversal at 296$



If we go 280 it will be the first sell signal since the drop to 223$.
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July 13, 2015, 05:53:03 PM
 #191

Litecoin pls?  Cool
klee
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July 13, 2015, 06:49:48 PM
 #192

BTCe LTCUSD:



We made a reversal up to 5.25$ and then fell back to support of 4.25$. Now resistance is at 4.75-5$.
The triangle will have to break either upwards (buy signal at 5.5$) or downwards (sell signal 3.5$) so we test the 2.75-3.25$ support.

At 2.5$ we are in bearish trend...
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July 14, 2015, 08:09:24 PM
 #193

Hey klee, love your charts, it was a bit hard to understand at first but S/R levels seem really good.

Any chance you can post an XMR chart?

Cheers!
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July 15, 2015, 08:13:01 AM
 #194

We may get another bounce up for a double-top at $320 ($315 realizable trade)?

By borrowing BTC and selling on bitfinex. The leverage you can get is dependent on how much % over your selling price you want to hold a reserve to prevent a margin call.

I almost did it, but decided I have better upside in what I am working on. So it wasn't worth the risk to me (not only unexpected volatility to the upside, also bitfinex solvency or the market price moving faster than bitfinex can execute margin calls), but in your case depending how desperate you are, it might be worth the risk if we bounce up again before declining.

I am fairly certain we will decline, but I can't be sure we won't see prices above $320 and below $400 before going down. Above $400, I would declare myself incorrect and eat the losses.

Some people said you can trade on bitfinex and even sell for $usd without doing KYC as long as you don't withdraw fiat. I didn't want to risk that, because it appears it is a discretionary policy.

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July 15, 2015, 08:27:48 AM
 #195

We may get another bounce up for a double-top at $320 ($315 realizable trade)?

By borrowing BTC and selling on bitfinex. The leverage you can get is dependent on how much % over your selling price you want to hold a reserve to prevent a margin call.

I almost did it, but decided I have better upside in what I am working on. So it wasn't worth the risk to me (not only unexpected volatility to the upside, also bitfinex solvency or the market price moving faster than bitfinex can execute margin calls), but in your case depending how desperate you are, it might be worth the risk if we bounce up again before declining.

I am fairly certain we will decline, but I can't be sure we won't see prices above $320 and below $400 before going down. Above $400, I would declare myself incorrect and eat the losses.

Some people said you can trade on bitfinex and even sell for $usd without doing KYC as long as you don't withdraw fiat. I didn't want to risk that, because it appears it is a discretionary policy.

Keep calling for 150 based on global macroeconomics which have nought to do with bitcoin prices..
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July 15, 2015, 08:49:35 AM
 #196

We may get another bounce up for a double-top at $320 ($315 realizable trade)?

By borrowing BTC and selling on bitfinex. The leverage you can get is dependent on how much % over your selling price you want to hold a reserve to prevent a margin call.

I almost did it, but decided I have better upside in what I am working on. So it wasn't worth the risk to me (not only unexpected volatility to the upside, also bitfinex solvency or the market price moving faster than bitfinex can execute margin calls), but in your case depending how desperate you are, it might be worth the risk if we bounce up again before declining.

I am fairly certain we will decline, but I can't be sure we won't see prices above $320 and below $400 before going down. Above $400, I would declare myself incorrect and eat the losses.

Some people said you can trade on bitfinex and even sell for $usd without doing KYC as long as you don't withdraw fiat. I didn't want to risk that, because it appears it is a discretionary policy.
True.

Possible. IMO after 320 we will test 450-475 - this is the last test.. If we break 500$ the train has left for good for new ATH. So maybe we need to visit this price before a possible new bear market to double digits.


Hey klee, love your charts, it was a bit hard to understand at first but S/R levels seem really good.

Any chance you can post an XMR chart?

Cheers!
Thank you for your kind words!

A lot of people are interested in XMR and so am I, that's why I already do PnF analysis about it (also for XRP, STR, MAID, SJCX, DASH, SDC, NXT & BTS).

But I had to start a whole project because TradingView does not include data from Poloniex & Bittrex.

So I am about to launch a project that will offer PnF charts for alts and also signals & analysis.

It has to be with a subscription though because I pay 2 devs to implement this and a lot of my personal time too.

Long term I will maybe provide a trading bot based on PnF, indexes based on alts, relative strength charts for alts (so you know which alt is rallying or falling harder), bullish percentage indicator for cryptos sector, relative strength charts for btc with other assets (SP500, gold, DAX, ETFs, etc).

Finally I will provide more PnF patterns (see here for an example: http://stockcharts.com/def/servlet/SC.scan , P&F Patterns) for BTC & alts, log and percentage scale charts etc (TV does not provide log scale charts - also some indicators are not displayed correctly and 1box reversal charts are wrong).

If anyone is interested please PM me.

klee
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July 15, 2015, 08:59:33 AM
 #197



Support 264-292, bullish support broken at 260$
RocketSingh
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July 15, 2015, 10:14:39 AM
 #198

We may get another bounce up for a double-top at $320 ($315 realizable trade)?

By borrowing BTC and selling on bitfinex. The leverage you can get is dependent on how much % over your selling price you want to hold a reserve to prevent a margin call.

I almost did it, but decided I have better upside in what I am working on. So it wasn't worth the risk to me (not only unexpected volatility to the upside, also bitfinex solvency or the market price moving faster than bitfinex can execute margin calls), but in your case depending how desperate you are, it might be worth the risk if we bounce up again before declining.

I am fairly certain we will decline, but I can't be sure we won't see prices above $320 and below $400 before going down. Above $400, I would declare myself incorrect and eat the losses.

Some people said you can trade on bitfinex and even sell for $usd without doing KYC as long as you don't withdraw fiat. I didn't want to risk that, because it appears it is a discretionary policy.
True.

Possible. IMO after 320 we will test 450-475 - this is the last test.. If we break 500$ the train has left for good for new ATH. So maybe we need to visit this price before a possible new bear market to double digits.

Do you have an expected time frame to break through 500 ?
klee
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July 15, 2015, 10:35:00 AM
 #199

We may get another bounce up for a double-top at $320 ($315 realizable trade)?

By borrowing BTC and selling on bitfinex. The leverage you can get is dependent on how much % over your selling price you want to hold a reserve to prevent a margin call.

I almost did it, but decided I have better upside in what I am working on. So it wasn't worth the risk to me (not only unexpected volatility to the upside, also bitfinex solvency or the market price moving faster than bitfinex can execute margin calls), but in your case depending how desperate you are, it might be worth the risk if we bounce up again before declining.

I am fairly certain we will decline, but I can't be sure we won't see prices above $320 and below $400 before going down. Above $400, I would declare myself incorrect and eat the losses.

Some people said you can trade on bitfinex and even sell for $usd without doing KYC as long as you don't withdraw fiat. I didn't want to risk that, because it appears it is a discretionary policy.
True.

Possible. IMO after 320 we will test 450-475 - this is the last test.. If we break 500$ the train has left for good for new ATH. So maybe we need to visit this price before a possible new bear market to double digits.

Do you have an expected time frame to break through 500 ?
Not based on PnF but on my own instinct, I would expect things to escalate quickly if we break 320.
I would not be surprised if this take min 2-3 days and up to 2-3 weeks.

But this is wild ass speculation  Tongue
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July 15, 2015, 10:41:15 AM
 #200

Klee, what do you think about butcoin's price in 5 - 10 years from now ?

Quote from:  Satoshi Nakamoto
Feb. 14, 2010: I’m sure that in 20 years there will either be very large transaction volume or no volume.
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