PnF TA

[klee]

LTC alert...

[klee]

NXT charts added!

Hopefully by the end of day I will have Price Objectives for BTC to share with everyone...

[klee]

For altcoin subscribers, soon we will have RSI and P&F RSI (1d, 4h)

Here is a sample:

[klee]

Which are the 2 alts rallying at the moment? BTS & LTC.

Where to put your BTC (distribute them to these two coins according to your goals & risk/reward management)?

Enter LTC:BTS Relative Strength chart...

[klee]

Bitstamp 1D RSI, P&F version:

[macsga]

LTC alert...

I surely hoped to be the usual "pump LTC first, dump it to BTC" procedure. Usually the LTC runs first. If you see it rising high (hopefully more than $8.65 of July flash pump), it may be the vessel to break the 265-275 resistance on BTC (fingers crossed). Of course this time it may be different, meaning no LTC pump involved; no one knows for sure...

[klee]

LTC alert...

I surely hoped to be the usual "pump LTC first, dump it to BTC" procedure. Usually the LTC runs first. If you see it rising high (hopefully more than $8.65 of July flash pump), it may be the vessel to break the 265-275 resistance on BTC (fingers crossed). Of course this time it may be different, meaning no LTC pump involved; no one knows for sure...

It was a message directed for my subscribers, in case some did not see the slack post notification!
I told them to be alert about a possible bearish signal...

On what you said, lately LTC seems to act first (regardless of direction).
8.65$ is way to high, it would probably mean 320+...

[macsga]

LTC alert...

I surely hoped to be the usual "pump LTC first, dump it to BTC" procedure. Usually the LTC runs first. If you see it rising high (hopefully more than $8.65 of July flash pump), it may be the vessel to break the 265-275 resistance on BTC (fingers crossed). Of course this time it may be different, meaning no LTC pump involved; no one knows for sure...

It was a message directed for my subscribers, in case some did not see the slack post notification!
I told them to be alert about a possible bearish signal...

On what you said, lately LTC seems to act first (regardless of direction).
8.65$ is way to high, it would probably mean 320+...

As said, I don't put my money where my mouth is; I just point out the obvious procedure I've happened to notice all these months/years. I really don't know why this is happening; I guess because LTC transactions are much faster between exchanges maybe, but can't know for sure. In any case, 90 out of 100 times we have a pump in LTC, BTC shortly follows with the respective dump.

As for 320+ - I can't say that it has the dynamics to break it right now. We have about 2+ months till Christmas though... Maybe Santa has a prize for every single one of us who HODLED

[klee]

XMR 1d RSI double bottom?




Maybe...

[klee]

Yeap!....

[klee]

We might have bottomed:

https://bitcointalk.org/index.php?topic=1064374.msg12670950#msg12670950

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

[klee]

XBT ETN : NASDAQ Composite reversal (bullish):

[klee]

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...

[klee]

We might have bottomed:

https://bitcointalk.org/index.php?topic=1064374.msg12670950#msg12670950

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 0.00179847

Correct chart:



Breakout if we close daily above 0.00161201

[Gillette]

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!

[klee]

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

[Gillette]

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!

[klee]

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.)

[klee]

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!

Cohen and Dorsey actually made a fortune trading commodities with P&F, get your facts straight man!

https://play.google.com/store/books/details?id=mWMIEPQNEuEC&rdid=book-mWMIEPQNEuEC&rdot=1&source=gbs_vpt_read&pcampaignid=books_booksearch_viewport

[bassclef]

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