Crash!!!!

[ElectricMucus]

This thing keeps on crashing upwards.

actually it's sideways, but nevermind I know people will do anything to sell at a decent price, like bumping irrelevant threads with made up statements,

[SkRRJyTC]

This thing keeps on crashing upwards.

actually it's sideways, but nevermind I know people will do anything to sell at a decent price, like bumping irrelevant threads with made up statements,

Daily 10,20 and 50 SMA are all pointing up... thats a funny sideways trend...

[Mike Jones]

This thing keeps on crashing upwards.

actually it's sideways, but nevermind I know people will do anything to sell at a decent price, like bumping irrelevant threads with made up statements,

Daily 10,20 and 50 SMA are all pointing up... thats a funny sideways trend...

He's probably still sold at 8.95.

[ElectricMucus]

I have one word for each of you two:

lagging indicators.

[SkRRJyTC]

I have one word for each of you two:

lagging indicators.

Could you share your leading indicators with us?  Thanks.

[ElectricMucus]

Last high was 9.7 last low 7.7. Anything in-between is sideways.

Candle stick patterns are non-lagging though not leading. (No crystal ball for you)

[SkRRJyTC]

Last high was 9.7 last low 7.7. Anything in-between is sideways.

Candle stick patterns are non-lagging though not leading. (No crystal ball for you)

So if all indicators are lagging indicators, what significance did your two words, "lagging indicators" have?

[ElectricMucus]

I haven't said that do you comprehend the non- prefix?

There are lagging indicators and instantaneous indicators. You use the lagging ones to validate a conclusion you derive from a instantaneous one, but never use a lagging one for anything else than validation.

[SkRRJyTC]

I haven't said that do you comprehend the non- prefix?

There are lagging indicators and instantaneous indicators. You use the lagging ones to validate a conclusion you derive from a instantaneous one, but never use a lagging one for anything else than validation.

I should have made more of a point of disagreement that a candlestick or candlestick pattern is an instantaneous indicator.  For instance a hammer candle doesnt indicate anything until it has a confirmation candle following it.  This says to me that the candlesticks are also a lagging indicator.

But even following your reasoning...  today's candle is higher than yesterdays candle, and my lagging indicators confirm this.  Where is the sideways again?

[ElectricMucus]

I haven't said that do you comprehend the non- prefix?

There are lagging indicators and instantaneous indicators. You use the lagging ones to validate a conclusion you derive from a instantaneous one, but never use a lagging one for anything else than validation.

I should have made more of a point of disagreement that a candlestick or candlestick pattern is an instantaneous indicator.  For instance a hammer candle doesnt indicate anything until it has a confirmation candle following it.  This says to me that the candlesticks are also a lagging indicator.

But even following your reasoning...  today's candle is higher than yesterdays candle, and my lagging indicators confirm this.  Where is the sideways again?

I use them on a smaller timescale. (6 hours)
You see a doji after the "breakout"  which suggests the market is being pushed upwards. Then an inverted hammer and currently a "minus" (alas no movement) which suggests resistance at the current levels.

[thezerg]

Last high was 9.7 last low 7.7. Anything in-between is sideways.

Candle stick patterns are non-lagging though not leading. (No crystal ball for you)

Previous highs above 9 have been blips without conviction and without sell-side volume.  In fact one may have been caused by the hack of the bitcoinica act on mt gox.  IMHO this is the first push above 9 that has any conviction. 

[ElectricMucus]

Last high was 9.7 last low 7.7. Anything in-between is sideways.

Candle stick patterns are non-lagging though not leading. (No crystal ball for you)

Previous highs above 9 have been blips without conviction and without sell-side volume.  In fact one may have been caused by the hack of the bitcoinica act on mt gox.  IMHO this is the first push above 9 that has any conviction.  

Yes, still they are valid for estimating resistance levels and they aren't related to anything except fat finger trades.

[thezerg]

I propose that they are not that valid for estimating resistance levels.    I think that that nugget learned from stock markets may not apply to such an illiquid market like BTC.  I mean intraday stock prices are still the effect of significant market participation in terms of raw #s of people.  But in the BTC markets a single individual can (and did) set those prior highs, and in fact may have done so solely as a pump and dump.

I think we saw a lot of resistance breaking 9.  But didn't the convictionless highs push thru 9 like it did not exist, topping out at 9.5-9.7? 

Looking at the sell-side it seems like we will see a lot of resistance at 10, I guess we'll probably find out in the next week or so whether that resistance reforms at 9.7 or whether it stays at 10...

[oakpacific]

Last high was 9.7 last low 7.7. Anything in-between is sideways.

Candle stick patterns are non-lagging though not leading. (No crystal ball for you)

What about Last high was 31.9 last low 2.0. Anything in-between is sideways.

[kentrolla]

*chanting* Lets go bears lets go!

[smoothie]

*chanting* Lets go bears lets go!

Uhhhh yeaaahh....we're in a bull market...but you can dream 

[kentrolla]

*chanting* Lets go bears lets go!

Uhhhh yeaaahh....we're in a bull market...but you can dream 

u just wait. all the bears are going to be screaming "GOAL!!!" soon

[kentrolla]

here it comes.

[Yuhfhrh]

here it comes.

*Holds breath*

[kentrolla]

here it comes.

*Holds breath*

sec, gotta wait for my btc to arrive at gox *facepalm*