chessnut (OP)
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October 14, 2014, 09:29:17 PM |
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These are two more situations we might face  |
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windjc
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October 14, 2014, 09:40:48 PM |
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Well, if this rally doesn't test the upper BB at around 421 it would be shocking.
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chessnut (OP)
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October 14, 2014, 10:47:42 PM |
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Well, if this rally doesn't test the upper BB at around 421 it would be shocking.
I think so too. this is my major count right now. looking to buy 2390ish  |
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chessnut (OP)
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October 15, 2014, 02:21:36 AM |
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This is an excellent risk reward trade. buying at 2400ish and stoploss below 2370.  |
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kryptopojken
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October 15, 2014, 09:06:29 AM |
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If this is a failure wave V, what would that mean in terms of targets etc?
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chessnut (OP)
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October 15, 2014, 09:39:45 AM |
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If this is a failure wave V, what would that mean in terms of targets etc?
I think the market has just shown us this is a failure of wave v. this means that depending on how the market unfolds in the coming days, we will make our short target low 200s or around 300. low 200s will be the final low. |
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kryptopojken
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October 15, 2014, 09:50:37 AM |
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My long position hopes that you're wrong  |
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chessnut (OP)
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October 15, 2014, 09:56:35 AM |
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My long position hopes that you're wrong I hope that you are not using leverage if youre gonna hold, it rather goes against the grain of this thread. but best of luck. |
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JustAnotherSheep
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October 15, 2014, 09:58:39 AM |
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I think the market has just shown us this is a failure of wave v. this means that depending on how the market unfolds in the coming days, we will make our short target low 200s or around 300. low 200s will be the final low.
Out of curiosity, what invalidated this count before price crossed 2377 CNY? This is an excellent risk reward trade. buying at 2400ish and stoploss below 2370. Or are you assuming it will see cross and invalidation soon? |
Is it a bull? Is it a bear? No, it's just another sheep.
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chessnut (OP)
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October 15, 2014, 10:06:33 AM |
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I think the market has just shown us this is a failure of wave v. this means that depending on how the market unfolds in the coming days, we will make our short target low 200s or around 300. low 200s will be the final low.
Out of curiosity, what invalidated this count before price crossed 2377 CNY? This is an excellent risk reward trade. buying at 2400ish and stoploss below 2370. Or are you assuming it will see cross and invalidation soon? You make a good point, I am looking at the Bitstamp chart assuming failure of the trend. there is a chance that bistamp has given us a false signal,but for now it seems to be a legit signal. The chinese chart are starting to look bearish however, especially after retesting 2380. that shouldn't have happened. |
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ElectricMucus
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Marketing manager - GO MP
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October 15, 2014, 10:09:25 AM |
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Doing noise trading with waves. :facepalm:
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kryptopojken
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October 15, 2014, 10:09:37 AM |
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My long position hopes that you're wrong I hope that you are not using leverage if youre gonna hold, it rather goes against the grain of this thread. but best of luck. I have a fairly tight SL so it should be fine  |
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chessnut (OP)
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October 15, 2014, 10:20:40 AM |
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Doing noise trading with waves. :facepalm:
sometimes noise is the only edge we have. you make a good point though, maybe its best to stay out if we only have a small piece of price acion to base our trade on. The way I see it though is that some of these critical levels require quite a lot of chance to be broken if they are genuine. the energy of the market is simply exhausted and the levels are too strong by supply/demand. breaking iv wave support is not often a false signal to turn bearish. |
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chessnut (OP)
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October 15, 2014, 11:53:03 AM |
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we have an impulse upwards..... I may resume a bullish bias but suggest we wait for a better clearer signal, at least from me  before we do anything. |
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fewcoins
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October 15, 2014, 12:40:31 PM |
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we have an impulse upwards..... I may resume a bullish bias but suggest we wait for a better clearer signal, at least from me before we do anything. Don't let the floor fall out from under you! GLTA!!! |
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btc6000
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October 15, 2014, 02:13:09 PM |
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Just an observation, not a criticism, maybe a constructive one....consider quality rather than quantity of posts please!!!
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We have come to be one of the worst ruled, one of the most completely controlled and dominated, governments in the civilized world—no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and the duress of small groups of dominant men.
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L0uis
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October 15, 2014, 02:28:08 PM |
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Just an observation, not a criticism, maybe a constructive one....consider quality rather than quantity of posts please!!!
I like the posts for some reason. It helps my understanding about EW. |
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btcney
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October 15, 2014, 02:32:22 PM |
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Just an observation, not a criticism, maybe a constructive one....consider quality rather than quantity of posts please!!!
I like the posts for some reason. It helps my understanding about EW. yeah same |
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BitCoinNutJob
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October 15, 2014, 03:25:28 PM |
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Just an observation, not a criticism, maybe a constructive one....consider quality rather than quantity of posts please!!!
Im not a TA trader but looking around all the TA experts comments im getting the feeling the market can often reach a point where its close to 50/50 chance either way on direction. Im a happy longer term holder now at this price and will buy more if it drops as we are somewhere near bottom, this market can flip over 1k at anytime remember. |
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chessnut (OP)
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October 15, 2014, 10:03:43 PM |
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I try my best to do quality, but sometimes I cannot produce a high confidence count. I think that having a low quality count is better than none as long as you know how to use it (or not - as the case may be)
When I give a low confidence count I will usually say not to trade it, rather use it is a defence mechanism.
Having said that yesterday, I still think this market is no good for trading right now.
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