Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[Fatman3001]

.... am I the only one whose mind is boggled by their ability to ignore what they said two days ago and still claim that what they are doing makes sense? It's like a populist party. Of course they were right all along. They have called every possible movement there is.

Waves on a chart tend to play themselves out in patterns (impulse, corrective) and adhere to fibonacci levels as EW dictates, but they are driven more by volume, trader psychology and supply/demand than by a predetermined set of rules. EW tries to quantify this behavior but I find it best to keep an eye on their possibilities while analyzing volume and trends and where they're likely to begin and end.

It's just one of many tools to use. Plenty of methods will help reduce risk and point one in a direction of high probability trades. At the end of the day though, good trading comes down to money management than anything else.

But yeah, on a basic level it's mind-boggling to sift through the plethora of EW charts. One of them has to be close, therefore EW works. This reasoning can suck in newbs IMO and give them a false sense of security.

I guess. It's just that every time I see this flock of seagulls turn on a dime I start thinking of Thomas Kuhns "paradigm shifts" and the structure of science. These guys seems to be stuck in a paradigm that's in a heap of trouble. However it's not exactly natural science, so Kuhn doesn't apply.

[UnholyTrinity]

NotLambChop keeps spamming the same image from multiple accounts.

Here are a bunch of recent NotLambChops:
stoick
rmbku
UnholyTrinity
ricmi
Bummeryc
fakecovers
Gnppnx
niiisj

Liar! Bitcoiner!
I guess you´re just another one of incas sockpuppets? How many does he have already?

[Fatman3001]

.... am I the only one whose mind is boggled by their ability to ignore what they said two days ago and still claim that what they are doing makes sense? It's like a populist party. Of course they were right all along. They have called every possible movement there is.

Waves on a chart tend to play themselves out in patterns (impulse, corrective) and adhere to fibonacci levels as EW dictates, but they are driven more by volume, trader psychology and supply/demand than by a predetermined set of rules. EW tries to quantify this behavior but I find it best to keep an eye on their possibilities while analyzing volume and trends and where they're likely to begin and end.

It's just one of many tools to use. Plenty of methods will help reduce risk and point one in a direction of high probability trades. At the end of the day though, good trading comes down to money management than anything else.

But yeah, on a basic level it's mind-boggling to sift through the plethora of EW charts. One of them has to be close, therefore EW works. This reasoning can suck in newbs IMO and give them a false sense of security.

Our pro-trader,basscleff. Mumbles about trading all days, and is nearly always wrong. Why don't you join the Trading game, where you can show your godlike skills to all the EW-noobs!? 

He contributes. Imagine if you could use that massive brain of yours to do the same.

[JimboToronto]

I'm not a TA cultist so I tend to to take most TA with a grain of salt but this jumped out at me.



Doesn't this look like a classic flagpole and pennant? Isn't that supposed to be bullish?

[Dump3r]

.... am I the only one whose mind is boggled by their ability to ignore what they said two days ago and still claim that what they are doing makes sense? It's like a populist party. Of course they were right all along. They have called every possible movement there is.

Waves on a chart tend to play themselves out in patterns (impulse, corrective) and adhere to fibonacci levels as EW dictates, but they are driven more by volume, trader psychology and supply/demand than by a predetermined set of rules. EW tries to quantify this behavior but I find it best to keep an eye on their possibilities while analyzing volume and trends and where they're likely to begin and end.

It's just one of many tools to use. Plenty of methods will help reduce risk and point one in a direction of high probability trades. At the end of the day though, good trading comes down to money management than anything else.

But yeah, on a basic level it's mind-boggling to sift through the plethora of EW charts. One of them has to be close, therefore EW works. This reasoning can suck in newbs IMO and give them a false sense of security.

Our pro-trader,basscleff. Mumbles about trading all days, and is nearly always wrong. Why don't you join the Trading game, where you can show your godlike skills to all the EW-noobs!?  

He contributes. Imagine if you could use that massive brain of yours to do the same.

By contributing you mean that he toots his own horn 15 times day. As a troll it's no problem to contribute in the same manner, often I do - even in a so exaggerated way that people (with an iq above 50) can recognize some irony.

Did I say, as a troll? Is Basscleff a troll? Maybe...

We should ask Hooorhhhee - since he has the analytic view (kinda sixt sense)

[ChartBuddy]

Coin
Explanation

[billyjoeallen]

Sure looks like a bull pennant on the 30 min chart.

[derpinheimer]

I'm not a TA cultist so I tend to to take most TA with a grain of salt but this jumped out at me.



Doesn't this look like a classic flagpole and pennant? Isn't that supposed to be bullish?

Hm, wouldn't all sudden, sharp, upward spikes look like that? Not sure..

Also, BFX shorts approaching 23k. Cant say they didnt deserve to be burned... Thats from a peak of 31k just a bit over a day ago.

However there's tons of cheap shorts available again (10k) and building. That will probably be taken upon the first sign of a dump..

[bad trader]

Here are a bunch of recent NotLambChops:
stoick
rmbku
UnholyTrinity
ricmi
Bummeryc
fakecovers
Gnppnx
niiisj

Oh yeah, lowerlowlow goes to the list too. It was the original guy with the spammed image. I thought it was kind of sane the first time, so I gave it the benefit of the doubt.

[sAt0sHiFanClub]

.... am I the only one whose mind is boggled by their ability to ignore what they said two days ago and still claim that what they are doing makes sense? It's like a populist party. Of course they were right all along. They have called every possible movement there is.

Waves on a chart tend to play themselves out in patterns (impulse, corrective) and adhere to fibonacci levels as EW dictates, but they are driven more by volume, trader psychology and supply/demand than by a predetermined set of rules. EW tries to quantify this behavior but I find it best to keep an eye on their possibilities while analyzing volume and trends and where they're likely to begin and end.

It's just one of many tools to use. Plenty of methods will help reduce risk and point one in a direction of high probability trades. At the end of the day though, good trading comes down to money management than anything else.

But yeah, on a basic level it's mind-boggling to sift through the plethora of EW charts. One of them has to be close, therefore EW works. This reasoning can suck in newbs IMO and give them a false sense of security.

I guess. It's just that every time I see this flock of seagulls turn on a dime I start thinking of Thomas Kuhns "paradigm shifts" and the structure of science. These guys seems to be stuck in a paradigm that's in a heap of trouble. However it's not exactly natural science, so Kuhn doesn't apply.

You are not wrong.

[sAt0sHiFanClub]

I'm not a TA cultist so I tend to to take most TA with a grain of salt but this jumped out at me.



Doesn't this look like a classic flagpole and pennant? Isn't that supposed to be bullish?

Hm, wouldn't all sudden, sharp, upward spikes look like that? Not sure..

Also, BFX shorts approaching 23k. Cant say they didnt deserve to be burned... Thats from a peak of 31k just a bit over a day ago.

However there's tons of cheap shorts available again (10k) and building. That will probably be taken upon the first sign of a dump..

He drew random lines to a pennant shape. On a 15m chart.

Anyway, cheap shorts are looking good

[oblox]

I'm not a TA cultist so I tend to to take most TA with a grain of salt but this jumped out at me.



Doesn't this look like a classic flagpole and pennant? Isn't that supposed to be bullish?

Hm, wouldn't all sudden, sharp, upward spikes look like that? Not sure..

Also, BFX shorts approaching 23k. Cant say they didnt deserve to be burned... Thats from a peak of 31k just a bit over a day ago.

However there's tons of cheap shorts available again (10k) and building. That will probably be taken upon the first sign of a dump..

He drew random lines to a pennant shape. On a 15m chart.

Anyway, cheap shorts are looking good

I wouldn't say random. Looks pretty appropriate for a flag setup. Yes, it happens to be on a 15 minute chart but T/A can work on numerous different time frames with markets being fractal in nature. Having said that, I am still in the camp of the bear trend is still on below $295-$310 (depending on exchange) and as such, the trend is your friend.

[KFR]

Desperate much?

[Dump3r]

http://i60.tinypic.com/28m1k43.jpg

This meme is epic since it came right before the heavy dump to ~150$.

[Dump3r]

Desperate much?

Cause price is around 250 now?  

Really, it's more funny here within a correction since permabulls go always full retard then.

[LFC_Bitcoin]

Come on guys don't kick a man whilst he's down

[Dump3r]

Come on guys don't kick a man whilst he's down

Price is going up (meanwhile), so no need to complain 

[bad trader]

I'm not a TA cultist so I tend to to take most TA with a grain of salt but this jumped out at me.



Doesn't this look like a classic flagpole and pennant? Isn't that supposed to be bullish?

If it stays above the OKCoin trend line, I'd say it will likely keep going up.

[BayAreaCoins]

I wouldn't be overly shocked to see it correct back into the $230's before the $250's again.

Hell of a good past few days!

OKcoin futures trading a few dollars over market  

[LFC_Bitcoin]

What are we expecting this weekend then?
Usually there's a dump over the weekend, people seem to sell Friday night - Monday morning.
I fancy us to go to 250-255 though, I could be wrong but I have a feeling the sentiment is beginning to change.
We could be at the end of the bear market.