PnF TA

[klee]

Time to accumulate XRP, XMR, ETH and short BTS...

What about DOGE?

At Polo where I trade the volume sucks, so I don't track it!

So I got no idea.

Need to expand my data fetch engines to other exchanges too (but every exchange has different API etc and it is a pain to do so easily).

[illodin]

Going long when it finally seems to break to the upside (+238 or so) and going short when it seems to break to the downside (-228 or so) has been an easy way to lose the maximum amount of money.

When/if the octuple top/bottom breakout/breakdown finally happens the catapult should be massive?

[hdbuck]

Going long when it finally seems to break to the upside (+238 or so) and going short when it seems to break to the downside (-228 or so) has been an easy way to lose the maximum amount of money.

+1

[klee]

Going long when it finally seems to break to the upside (+238 or so) and going short when it seems to break to the downside (-228 or so) has been an easy way to lose the maximum amount of money.

When/if the octuple top/bottom breakout/breakdown finally happens the catapult should be massive?

Did I say to go long at 238?

[600watt]

Going long when it finally seems to break to the upside (+238 or so) and going short when it seems to break to the downside (-228 or so) has been an easy way to lose the maximum amount of money.

+1

-2 btc in my case

[macsga]

Going long when it finally seems to break to the upside (+238 or so) and going short when it seems to break to the downside (-228 or so) has been an easy way to lose the maximum amount of money.

+1

-2 btc in my case

Buy High, sell low... works every -single- time guys! (BTW: When did Klee say to go long on +238)?

[klee]

It make sense to be bullish, but it's hard to trade in such a volatile market. Isn't the stops won't be hold and all long positions will be flushed out before it can reach the highs?

Not sure what you mean but in general I struggled very much with BTC to find a setup (HL or CLOSE, box size, reversal, etc) which will allow me to enter a breakout without getting dumped immediately or soon. BTC tends to react with counter moves in the breakouts/breakdowns and usually you can't enter soon in strong ones because of low liquidity (sudden spikes of many dollars length).

The solutions I have found are:

1) Using a combination of charts which with my experience complement well each other. It is essential unfortunately that you look the market from many different angles. A very efficient (so far) chart is 2h CLOSE 1x1. I advised my readers to go long as soon as when we closed 2h at 232.*
2) Buying at the very strong supports (or selling/shorting at very strong resistances).
3) Using RSI (4h & 1d) as a complimentary method. (I am actually preparing P&F charts for both - VERY USEFUL tool).
4) Opening at important SRs BOTH positions with a stoploss at when you know the wrong position is invalid anymore.
5) Waiting for a pullback.
6) Using other P&F only tools as Trend Oscillator for detecting overbought/oversold conditions (in progress).


EDIT: * Actually it was a buy since 229 but had resistance there. At 230 it was all clear. Don't remember what I said to my readers back then, have to check. Maybe someone can help.

AFAIK you said buy in the 230-232 region yes, unfortunately I haven't traded in the last couple of weeks.

I'm always in coin tho but I'll definately wait for a small pullback now and do some longs.

Cheers klee!

BTC now is in the resistance zone of 4x3 HL (236-240, breakout 248):



Support 228-232.


Also, the 1x2 CLOSE is at resistance (238-239):



Support 234-235.


Sell signals are for 4x3 HL 220, for 2x2 HL 230 (exactly on the support, so maybe 228) and the 1x2 CLOSE at 232$.

So if we hit 230 or lower AND/OR close 232 or lower maybe it is time to sell.

[illodin]

Going long when it finally seems to break to the upside (+238 or so) and going short when it seems to break to the downside (-228 or so) has been an easy way to lose the maximum amount of money.

+1

-2 btc in my case

Buy High, sell low... works every -single- time guys! (BTW: When did Klee say to go long on +238)?

He probably didn't, sorry if I gave that impression. Just wanted to say what not to do unless you hate money.

[klee]

It is not my fault if people try to trade with P&F on their own - it is an art as all TA methods, it took me much time in order to be able to trade with profits>losses.

It can be used for short,medium & long term trading. If you want to avoid chops, use log scale, 3%x3 CLOSE chart and be done with that (buy only at supports).

I have posted this chart upthread.

[klee]

Going long when it finally seems to break to the upside (+238 or so) and going short when it seems to break to the downside (-228 or so) has been an easy way to lose the maximum amount of money.

+1

-2 btc in my case

Buy High, sell low... works every -single- time guys! (BTW: When did Klee say to go long on +238)?

He probably didn't, sorry if I gave that impression. Just wanted to say what not to do unless you hate money.

Lol no worries!

It is very difficult market to trade, basically I think that the safest way is to only buy with 1d RSI divergence after it hit below 30 first...

[klee]

XBT ETN : NASDAQ Composite RS reversed yesterday:

[klee]

Liftoff??

[klee]

If this chart as is now reverses at 238 it is going to be bearish (fulcrum).
237 channel is broken, 236 sell signal.

So be alert, it can go both ways and it will be probably violent either way...

[hdbuck]

If this chart as is now reverses at 238 it is going to be bearish (fulcrum).
237 channel is broken, 236 sell signal.

So be alert, it can go both ways and it will be probably violent either way...

drop it!

https://www.youtube.com/watch?v=Z_JOGmXpe5I

[klee]

If this chart as is now reverses at 238 it is going to be bearish (fulcrum).
237 channel is broken, 236 sell signal.

So be alert, it can go both ways and it will be probably violent either way...

drop it!

https://www.youtube.com/watch?v=Z_JOGmXpe5I

Lol the woman reminds me of Buscemi!!!

[klee]

Not good:

[klee]

If this chart as is now reverses at 238 it is going to be bearish (fulcrum).
237236 channel is broken, 236235 sell signal.

So be alert, it can go both ways and it will be probably violent either way...

[hdbuck]

If this chart as is now reverses at 238 it is going to be bearish (fulcrum).
237236 channel is broken, 236235 sell signal.

So be alert, it can go both ways and it will be probably violent either way...

wouldnt be that dramatic. imho still just $10 range sideways.

altho i'd love to see it fall since i got some nice bids set up.

[klee]

If this chart as is now reverses at 238 it is going to be bearish (fulcrum).
237236 channel is broken, 236235 sell signal.

So be alert, it can go both ways and it will be probably violent either way...

wouldnt be that dramatic. imho still just $10 range sideways.

altho i'd love to see it fall since i got some nice bids set up.

Big discussion for a Saturday morning (here)!

Meanwhile, the following chart help us see what is going on regarding accumulation/distribution (power of the 1 reversal P&F charts):

BTCUSD 2h CLOSE 1x1



Of course that does not mean we are doomed not to break to the upside, but so far distribution is bigger than accumulation in the 239 area.

[klee]

Mind you that the PO of the below long term chart for the upside maybe 350$ but for the downside is 102$:

Bitstamp 1d CLOSE 3%x3

The PO are based on the Vertical counts of the following columns:

1) The reversal X column from the 173$ low, which was partially hit (305$) but then was INVALIDATED by the triple bottom break. I still give this count though a chance because I wanna be good with Bitcoin (but this may be very wrong).*
2) The triple bottom break at 213$, which will need a new buy signal to get invalidated...

POs may be soft targets but they tend to give a pretty good feeling on where the pressure is heavier regarding the trend.

*Also because the trendline held.